Visa touts a resilient consumer

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.