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Visa (V) reported fiscal second quarter results that were stronger than expected. Net revenue came in at $9.59 billion, narrowly beating the $9.55 billion Wall Street expected, while adjusted earnings per share (EPS) were $2.76 compared to estimates of $2.68. Julie Hyman and Josh Lipton break down the earnings print.
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Uh, let's also take a look at Visa, which just reported Visa shares on the flip side are higher following a beat on the top and bottom line for the second quarter, and the company authorized a new buyback program for $30 billion here. The company says it is, it sees low teens earnings per share growth for the full year here. A low double digit net revenue growth for the full year. Net revenue coming in at $9.59 billion and adjusted earnings per share of $2.76, excuse me. Um, so there, at least, you know, we are seeing strength, implied strength coming from the consumer as a result of these numbers. If you look at the read through here, the company talks about in the statement, Ryan McInerney, the CEO, healthy trends in payments volume, cross-border volume and processed transactions. He says consumer spending remained resilient even with macroeconomic uncertainty.
Yeah. I like how Ed Yardeni, friend of the show, very smart man. He says, you know, like how Ed says, how a good gauge for consumer spending expectations, you know, should be the stock price of, of, sort of the, stock price performance of the big American credit card companies. And you look at Visa, I mean heading into this one, it was, it was up, you know, 10% year to date. We're tacking on better than 2% now. Remember, Capital One recently reported results, beat the street.