5 Latest Earnings to Watch

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 166

Shares of Visa Inc. (NYSE:V) rose nearly six percent in mid-day trading Wednesday after delivering strong financial results for its fiscal fourth quarter. The payments technology company attributed the results to cross-border travel recovery and strength in consumer spending.

Visa Inc. (NYSE:V) reported adjusted earnings of $1.93 per share, compared to $1.62 per share in the corresponding period of 2021. Revenue also jumped 19 percent versus last year to $7.79 billion. Analysts were looking for earnings of $1.87 per share on revenue of $7.57 billion.

Among other updates, Visa Inc. (NYSE:V) reported that total processed transactions increased 12 percent on a year-over-year basis to 50.9 billion in the quarter.

Speaking on the results, CEO Alfred F. Kelly, Jr. said:

“In Visa’s fiscal fourth quarter, we saw a continuation of many of the spending trends present throughout 2022: strength in consumer payments, resilience in eCommerce and ongoing recovery in cross-border travel.”