Visa Stock Overcomes Rising Economic Challenges -- Is It a Buy Now?
Visa (NYSE: V) and its digital payment network peers like Mastercard have had to overcome all kinds of issues the last couple of years, such as the pandemic and a sharp drop in traditional consumer spending that went along with it, war in Europe, and fast-rising interest rates in the U.S. that are causing currency exchange rates to go haywire. In spite of it all, though, Visa is back with a vengeance and growing its revenue fast.
To be sure, this isn't ever going to be the fastest-growing financial technology company out there. If all-out growth is what you're after, look elsewhere. But if steady growth and a high rate of profitability is what you want to build a portfolio around, you're come to the right place.
After a significant dip in revenue in 2020, Visa's revenue is back on the rise in grand fashion. But 2022 has arrived with a bevy of new challenges: The company closed its operations in Russia in response to the country's war on Ukraine, ongoing COVID-19 variant infections have kept international travel at bay, and the U.S. Federal Reserve's aggressive interest rate hikes to try and tame inflation have had a big side effect on foreign currency exchange rates.
Source Fool.com
