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Shares in US payments firm, Visa, are trading 0.43% lower pre-market on Friday. However, the stock has remained broadly well supported following a positive Q2 earnings report at the end of last month. It has seen the company’s share price hovering around the 200 mark.
Q2 Earnings Beat
Visa, which is the world’s largest payments systems company, posted earnings per share of 1.07. This was versus estimates of 1.03 per share on revenues of $5.85 billion. These revenues, which mark a 7% increase year on year, were also higher than the $5.75 billion the market was looking for. It reflects a surge in activity over the quarter. The company confirmed a net income of $3.08 billion. This marks a 4% increase on the $2.98 billion posted a year earlier.
The earnings report was particularly well-received given that rival payments firm Mastercard posted a drop in Q2 profits just days ahead of the Visa release. Similarly, AmEx also noted a drop in its quarterly profits. They attributed this to a surge...
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