Visa Q2 - Beat on revenue and earnings

Last night Visa, our second most widely-held stock behind Apple, reported steady growth for the second quarter of 2023. Both revenue and profit figures came in higher than Wall Street expected, reflecting a resilient global consumer.

Visa processed total payments volume of $3.17 trillion for the quarter, representing a 9% increase from a year ago. Cross-border swipes increased by 17%, consistent with strong tourism figures reported by travel companies.

Visa made $8.1 billion from facilitating all those money transfers, and racked up profits of $4.2 billion for shareholders. This really is an amazing business, with very juicy margins! They generate $1 of net profit for every $2 in revenue, and are the envy of most businesses.

We will continue to accumulate Visa shares for our clients. If you open a new investment portfolio with Vestact, Visa shares will be on the list of stocks to buy on the first day.