4/27, 10:15 PM (Source: TeleTrader)
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Chart for: Visa Inc

Visa Q2 revenue up 2% to $5.7B, beats estimates

Visa financial services company revealed on Tuesday its financial results of the second fiscal quarter of 2021, marking a revenue of $5.7 billion, which is a 2% growth of the figure compared to the same period of last year. The company's net income also saw a 2% increase year-on-year to $3 billion, while the earnings per share remained flat at $1.38 per share.

"We believe we are starting to see the beginning of the end and the recovery is well underway in a number of key markets around the world. This quarter, we saw a return to positive growth for credit and card-present transactions and debit and eCommerce growth stayed at very healthy levels," said Alfred Kelly Jr., Visa's chief executive officer.

Payments volume in the second fiscal quarter of 2021 increased by 11% against the comparable prior-year period, while the total cross-border volume on a constant-dollar basis declined by 11%. Visa's total processed transactions were up 8% year-on-year and amounted to $37.6 billion.

Following the report, Visa's stocks grew by 1.71% in after-hours trading to $233.85 per share.

Breaking the News / LH