Investing.com -- Visa Inc shares were up 1.6% at $349 in the aftermarket trading after world's largest payments processor reported first-quarter earnings on Thursday that topped Wall Street expectations on by strong payments volume and a surge in cross-border transactions. It also provided an upbeat revenue outlook for the year.
The company posted earnings per share of $2.75, beating analysts' estimates of $2.66. Revenue rose to $9.51 billion, exceeding the consensus forecast of $9.35 billion.
Visa (NYSE:V) said its total payments volume increased 9% on a constant dollar basis in the quarter, while processed transactions grew 11%. Cross-border volume, excluding intra-Europe transactions, jumped 16%.
For the second quarter, Visa expects net revenue growth in the high single-digit to low double-digit range on an adjusted constant dollar basis. Full-year net revenue growth is projected to be in the low double digits.
The company also forecasts high single-digit growth in Q2 earnings per share for Class A common stock, with full-year EPS expected to rise in the low-teens percentage range.
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