Shares of Visa (NYSE: V) surged 10.6% on Friday after the digital payments giant delivered impressive fiscal 2022 first-quarter earnings results.
Visa's revenue jumped 24% year over year to $7.1 billion. The gains were fueled by sustained growth in e-commerce and a surprisingly fast rebound in travel-related spending.
Notably, Visa's lucrative cross-border volume -- which is comprised of transactions between purchasers and merchants that reside in different countries -- soared 40%.
Source Fool.com