The consumer is doing just fine.
Here is what Visa CEO Ryan McInerney said in the earnings release:
"We reported another quarter of strong results, reflecting stable business trends. Consumer spending remained resilient, driving growth in payments volume and processed transactions. Cross-border volume continued to be a tailwind, fueled by travel growth from the ongoing recovery and summer tourism. We are focused on accelerating our growth across consumer payments, new flows and value added services by investing in our brand, innovation, capabilities, people and clients so that we remain at the center of money movement for years to come.”
Shares of Visa are up 4% after hours on earnings.
We'll look for more commentary on the strength of consumer spending in the conference call.
