Visa's Strong Earnings May Be A Troubling Sign For The Economy [Yahoo! Finance]
Visa Inc. (V)
Last visa inc. earnings: 4/30 04:01 pm
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Source: Yahoo! Finance
Visa Inc. (NYSE: V ) recently reported impressive fiscal second quarter 2024 results, with net revenue increasing by 10% and payments volume growing by 8%. While these numbers may seem like a positive indicator for the economy, as they suggest strong consumer spending, a closer look at the current state of consumer credit card debt paints a more troubling picture. According to the latest consumer debt data from the Federal Reserve Bank of New York, Americans' total credit card balance has reached a staggering $1.129 trillion in the fourth quarter of 2023. This marks the third consecutive quarter in which credit card balances have surpassed the $1 trillion mark, a level never seen before the second quarter of 2023. The recent increase in credit card debt is particularly concerning, as balances have risen by $273 billion since the fourth quarter of 2021. This surge in debt has been fueled by record-high interest rates, persistent inflation, and various other economic factors, which
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News
- Visa to Participate in Upcoming Investor ConferencesBusiness Wire
- Intuit Appoints Vasant Prabhu, Former CFO and Vice Chairman of Visa, to its Board of Directors [Yahoo! Finance]Yahoo! Finance
- Visa Inc. (NYSE: V) had its price target raised by analysts at Mizuho from $265.00 to $275.00. They now have a "neutral" rating on the stock.MarketBeat
- Visa Joins AWS Partner Network to Help Simplify Global Digital PaymentsBusiness Wire
- Visa Inc. (NYSE: V) had its price target raised by analysts at Macquarie from $290.00 to $300.00. They now have an "outperform" rating on the stock.MarketBeat
V
Earnings
- 4/23/24 - Beat
V
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 144
- 4/24/24 - Form 10-Q
- V's page on the SEC website