By Rebecca Ungarino

Visa offered mixed financial results on Tuesday, as quarterly earnings that accounted for certain items slipped from a year ago and missed Wall Street forecasts.

The San Francisco-based company's revenue, payments volume, and processed transactions rose from a year earlier, however. Shares rose in response to the earnings report.

Visa left its financial outlook for 2025 unchanged, a welcome sign for investors evaluating how companies are positioning themselves against an uncertain economic outlook. The firm also authorized a new $30 billion stock buyback program over several years, and said it bought back $4.5 billion of shares during the first three months of 2025.

People kept spending in spite of a darkening economic backdrop as tensions between the Trump administration and key trade partners hurt consumers' confidence and weigh on stock prices. Visa Chief Executive Ryan McInerney said in a statement on Tuesday that consumer spending "remained resilient, even with macroeconomic uncertainty."

Consumer spending, the backbone of the U.S. economy, has remained solid, especially among more affluent spenders. Sentiment has suffered, though, and the likelihood of a recession has risen. A slowdown or downturn in economic growth could drag on Visa's earnings, and those of rival payment-processing firms, if people make fewer purchases.

For now, though, spending continues apace. Visa's revenue for its fiscal second quarter, which captures January through March, rose 9% from a year earlier to $9.6 billion. That topped expectations for $9.55 billion.

Visa posted a profit of $4.6 billion, which dropped by 2% from the year-ago period and missed analysts' expectations for $5.24 billion. That amounted to $2.32 per share, short of the $2.66 a share analysts polled by FactSet were calling for. Adjusted for certain items, Visa's per-share earnings of $2.76 beat estimates of $2.68.

Shares of Visa rose 0.8% in after-hours trading. The stock has risen 8.7% in 2025 while the S&P 500 has declined 5%.

Investors are set to hear more about the company's strategy for 2025 this week. Visa said its management will announce "new products, solutions and technology partners" tied to artificial intelligence and consumer spending at a company event on Wednesday.

A year ago, Visa reported $4.66 billion of net income, or $2.29 per share, on revenue of $8.78 billion.

Write to Rebecca Ungarino at rebecca.ungarino@barrons.com

Write to Rebecca Ungarino at rebecca.ungarino@barrons.com

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April 29, 2025 18:46 ET (22:46 GMT)

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