Visa profit rises on strong card spending volumes, plans $30 billion buyback

Published: 2025-04-29 16:12:38 ET V

(Reuters) -Visa reported a rise in second-quarter profit on Tuesday, as the world's largest payment processor benefited from steady card payment volumes and announced a $30 billion share buyback plan.

Payments volume -- a gauge of overall consumer and business spending on Visa's network -- jumped 8% in the quarter.

U.S. consumer spending remained resilient in the reported quarter, helped by strong wage growth and low unemployment rates even though some customers cut back on discretionary spending on tariff-related inflationary expectations and growth worries.

President Donald Trump's decision to hit trading partners with steep tariffs came just as the quarter ended, and could hit consumer confidence and dent spending, analysts have said.

Shares of the company were up marginally in trading after the bell.

The company posted an adjusted profit of $5.4 billion, or $2.76 per share, in the three months ended March 31. That compared with $5.1 billion, or $2.51 per share, a year earlier.

(Reporting by Pritam Biswas in Bengaluru; Editing by Sriraj Kalluvila)