Visa Inc (NYSE:V) could be on track to surpass Street expectations once again when the payments giant reports its fiscal third quarter 2023 financial results after the market close on Tuesday, July 25, 2023, according to Zacks Investment Research.
Its consensus earnings per share (EPS) forecast for period is $2.10, up from the $1.98 it recorded during the same quarter last year.
Visa’s 3Q sales, meanwhile, are expected to increase 10.7% year over year to $8.05 billion, Zacks reported.
In April, Visa saw its 2Q revenue rise 11% year over year to $8 billion, ahead of the consensus analyst expectation of $7.74 billion, while generating better-than-expected adjusted net income of $2.09 per share.
Its results were lifted by a double-digit increase in payment volumes as travel-related spending continues to recover from the pandemic lockdowns.
“Visa's most recent intra-quarter data shows that card-present cross-border travel-related volume was at 139% of 2019's level in May (up from about 130% in April), supported by improving traffic in the US and Asia-Pacific travel corridors,” Morgan Stanley (NYSE:MS) analysts wrote in a recent note to clients.
Visa has beaten earnings estimates during its previous two quarters, Zacks noted.
Contact Sean at sean@proactiveinvestors.com