Visa rises after quarterly profit beats estimates

Shares of payments giant Visa V.N rise 1.6% to $347 after the bell

The world's largest payments processor reports quarterly adj. profit of $5.4 bln, or $2.76 per share, compared with $5.1 bln, or $2.51 per share, a year earlier

Company announces a $30 billion multi-year share repurchase authorization program

Payments volume — a gauge of overall consumer and business spending on Visa's network — jumps 8% in the quarter ended March 31

Cross-border volume, excluding intra-Europe, a measure of international travel demand, jumps 13% in Q2

Visa shares are up ~8% YTD, as of Tuesday's close; they rose 21.4% in 2024