Why Visa Shares Are Trading Higher Today

Visa Inc (NYSE: V) shares are trading higher Wednesday after the company reported better-than-expected financial results. 

Visa said second-quarter revenue increased 25% year-over-year to $7.2 billion, which beat the $6.84 billion estimate. The company reported quarterly adjusted earnings of $1.79 per share, which beat the estimate of $1.65 per share, according to data from Benzinga Pro.

"The Omicron variant impacts were short lived and the global economic recovery that began in the middle of last year continued," said Alfred Kelly, chairman and CEO of Visa.

• Credit Suisse analyst Moshe Orenbuch maintained Visa with an Outperform rating and raised the price target from $260 to $265.
• Morgan Stanley maintained Visa with an Overweight rating and raised the price target from $279 to $284.

See Also: Why Microsoft Shares Are Moving Higher Today

V Price Action: Visa has traded between $186.67 and $252.67 over a 52-week period.

The stock was up 7.18% at $215.53 at time of publication.

Photo: courtesy of Visa.