Visa Is Leading the Dow Rally Today -- Is It a Buy?
Nearing the final hour of trading, Visa (NYSE: V), the largest payments processing company in the world, lead the rally in the Dow Jones Industrial Average, which was up about 320 points as of 2:50 p.m. ET today. Visa's stock traded 7.3% higher.
Investors piled into Visa after the company reported earnings results for its second fiscal quarter of 2022 ending on March 31, which impressed the market.
Visa reported $1.79 in non-GAAP (adjusted) earnings per share on revenue of $7.2 billion in the quarter, both numbers that beat analyst estimates. Total payments volume in the quarter rose 17% from the first quarter of 2021, while total cross-border payment volume jumped 38%, as travel and entertainment spending continued to rebound.
Source Fool.com
