Visa shares surpass 52-week high on strong Q3 results

Credit card giant Visa (V) reported upbeat results for its third quarter ending June 30, 2018. The company’s shares, which hit a new all-time high on Wednesday’s regular trading session, continued to trade in the positive territory after the bell also.

Visa’s adjusted earnings jumped about 40% year-over-year to $1.20 per share on revenue growth of 15% to $5.2 billion. Analysts viewed that Visa’s earnings would be $1.08 per share on revenue of about $5.06 billion. GAAP net income swelled 13% to $2.3 billion or $1.00 per share. The revenue growth in the quarter was helped by continued growth in payments volume, cross-border volume, and processed transactions.