Investing.com - Visa (NYSE:V) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Visa announced earnings per share of $1.39 on revenue of $5.85 billion. Analysts polled by Investing.com anticipated EPS of $1.35 on revenue of $5.76 billion.
That compared to EPS of $1.31 on revenue of $5.49 billion in the same period a year before. Visa had reported EPS of $1.46 on revenue of $6.05 billion in the previous quarter. Analysts are expecting EPS of $1.23 and revenue of $5.27 billion in the upcoming quarter.
Visa shares fell 1.3% in after-hours trade following the report.
"Visa has been hit quite hard by the near collapse in international travel and lower transaction volumes as people stay at homes and avoid unnecessary spending," Investing.com analyst Haris Anwar said. "That downturn in spending, especially on travel, is likely to last longer, and force the credit card companies to drastically cut their earning estimates for the current year."
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar