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Visa Jumps on Quarterly Results

Visa (NYSE:V) watched its shares rocket first thing Friday. The payment network operator reported strong financial results for its most recent quarter, including adjusted earnings per share of $2.18 and revenue of $7.94 billion. Analysts expected $2.01 per share in adjusted earnings and $7.70 billion in revenue.

Fiscal Q1 non-GAAP EPS of $2.18, exceeding the average analyst estimate of $2.01, rose from $1.93 in fiscal Q4 and $1.81 in Q1 2022.

Net revenue for the quarter ended Dec. 31, 2022 was $7.94B, vs. $7.70B consensus, increasing from $7.79B in the prior quarter and from $7.06B in the year-ago period.

Said CEO Alfred Kelly, "In our fiscal first quarter of 2023, Visa grew net revenues 12% year over year as we saw stable payments volume and processed transaction growth and a continued cross-border travel recovery.” On Feb. 1, Ryan McInerny will become CEO and Kelly assumes the role of executive chairman.

Payments volume in Q1 rose 7% Y/Y in constant dollars with cross-border volume up 22% and processed transactions up 10%. That compares with Q4's payments volume growth rate of 10%, cross-border growth of 36%, and processed transactions increase of 12%.

Visa Inc. Q1 total payments volume of $3.01T vs. Visible Alpha consensus of $3.11T, vs. $2.93T in Q3.

Q4 total operating expenses of $2.85 Billion rose from $2.70 Billion in the previous quarter and from $2.28B in the year-ago period.

The company galloped $7.37, or 3.3%, to $232.08.