BUZZ-Visa rises as Q1 profit beats estimates on strong holiday-quarter spending

** Shares of payments giant Visa V.N rise ~1.9% to $349.64 premarket

** After market on Thursday, the world's largest payments processor beat Wall Street ests for Q1 profit as easing concerns about an economic slowdown and discounts encouraged customers to splurge during the holiday shopping season

** Payments volume — a gauge of overall consumer and business spending on Visa's network — jumped 9% in the quarter

** V posted Q1 adjusted profit of $2.75 per share sailing past estimates of $2.66, according to data compiled by LSEG

** Cross-border volume excluding intra-Europe, a measure of international travel demand, jumped 16% in Q1

** At least seven brokerages raise price targets on the stock after results

** "A combo platter of solid holiday spending, elevated FX volatility, and strong cross-border travel provided the key ingredients for upside in the quarter," analysts at RBC Capital Markets wrote in a note

** Visa shares rose 21.4% in 2024