Visa A Earnings, Revenue Beat in Q1 as Payments Volume Jumps

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Visa A Earnings, Revenue Beat in Q1 as Payments Volume Jumps
Credit: © Reuters.

By Yasin Ebrahim

Investing.com - Visa (NYSE: V ) reported Thursday first quarter results that beat analysts' forecasts as a jump in payments volume bolstered growth.

Visa A shares gained 5.87% in after-hours trade following the report.

Visa A announced earnings per share of $1.81 on revenue of $7.06 billion. Analysts polled by Investing.com anticipated EPS of $1.70 on revenue of $6.79 billion.

The better-than-expected results were driven by "the year-over-year growth in payments volume, cross-border volume and processed transactions," the company said.

Payments volume for the quarter, increased 20% year over year, the higher-margin cross-border volume gained 51%, and processed transaction was up 21%.

As we look ahead, we do not believe the current surge in the pandemic will curtail the recovery."

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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