Visa Earnings: Volume Growth Drives Revenues

We believe that Visa's growth, which it has been able to register in a tepid economic environment, will pick up as economic conditions become more favorable going forward. In addition, emerging markets outside of the U.S. will continue to provide a high fertile ecosystem for growth in the long term. The company's stock spiked by over 10% after the earnings release on the back of favorable growth in key metrics during the quarter as well as the share repurchase program that was announced.