A $20 billion buyback and a 12% rise in cross-border volume were the numbers investors took from Visa’s second-quarter report. Shares climbed about 5% in premarket trading after the company beat expectations.
Visa also updated its full-year earnings outlook. Consumer spending held up, the company said, despite broader macroeconomic uncertainty, and payment volume grew during the quarter.
Chief executive Ryan McInerney said Visa is watching geopolitical developments, including tensions in the Middle East. Changes in travel patterns are being offset, he said, by stronger demand for travel to the United States. He pointed to major international events such as the FIFA World Cup and to higher commercial travel volumes as support for cross-border activity.
The cross-border figure is the one to watch. Volume rose 12% year-on-year on a constant-dollar basis in the quarter, against 13% growth in the same period last year. Analysts at J.P. Morgan said the data show that earlier fears of a sharper slowdown in cross-border activity have not come true.
Buyback and growth plans
Visa’s board approved a new multi-year share repurchase program of $20 billion. Chief financial officer Chris Suh said the company keeps weighing investment in growth against returning capital to shareholders.
On growth, Visa is focusing on artificial intelligence and new commerce models, along with its marketing services segment. Analysts from TD Cowen and William Blair said the business has several sources of growth.
The stock still has ground to make up. Visa shares are down about 12% year-to-date in 2026, though they remain ahead of peers such as American Express. Mastercard and other competitors also traded higher in early trading after the results.
