Visa (NYSE:V) stock gains 5.2% in after-hours trading as card transactions increase year-over-year during the card network's fiscal Q1 and cross-border volume continues to rise.
Net revenue for the quarter ended Dec. 31, 2021 was $7.06B beats the consensus estimate of $6.79B; compares with $6.56B in Q4 and $5.69B in Q1 2021.
Fiscal Q1 non-GAAP EPS of $1.81 vs. consensus of $1.70; compares with $1.62 in Q4 and $1.42 in Q1 2021.
Payments volume rose 20% Y/Y in constant dollars with cross-border volume up 40% and processed transactions up 21%.
Going into January, U.S. payments volume is increasing and processed transactions growth rate is slowing according to graphs in its slide presentation.
Visa Inc. payment volume of $2.97T vs. Visible Alpha estimate of $2.88T; compares with $2.78T in Q4.
Q1 total operating expenses of $2.28B increased 24% Y/Y.