Visa Profit Beats Estimates as Travel Rebound Boosts Volumes
- Visa's profit beat estimates as travel rebounded post-pandemic, driving cross-border volumes up 18%
- Strong results signal consumer resilience despite economic concerns
- Payment volumes grew 9% and Visa expects no recession in outlook
- Inflation moderating has been a headwind this year but should ease in 2023
- Visa raised dividend 16%, authorized new $25B share buyback program