Visa(V.US) surpasses Q1 expectations as cross-border volumes and processed transactions both experience double-digit growth.

Global payment leader Visa (V.US) released its first-quarter fiscal 2025 financial results. The company's Q1 net revenue grew 10% year over year to $9.5 billion, topping the market's expectation of $9.35 billion; adjusted net profit grew 11% year over year to $5.5 billion; adjusted EPS was $2.75, topping the market's expectation of $2.66.

Visa's first-quarter results exceeded expectations due to double-digit growth in cross-border transactions and processed transactions. The company reported that cross-border transactions grew 16% year over year in the first quarter, while processed transactions grew 11% year over year.

Visa CEO Ryan McInerney stated that the results reflected healthy holiday spending and an improvement in payment volume, cross-border transaction volume, and processed transaction growth. He added: "As we continue toward 2025, we will continue to focus on serving our customers and innovating on the three growth levers of consumer payments, new processes, and value-added services."

It's noteworthy that earlier in the day on Thursday, Visa's rival Mastercard (MA.US) also reported better-than-expected earnings, partly due to better-than-expected revenue growth. In addition, on Tuesday, Visa announced a new partnership with Elon Musk's social platform X to help the latter expand its financial services products.