Visa and Mastercard stocks surged on August 24, with Visa approaching record closing highs near $380–$381 and Mastercard climbing over 3% toward the $600 mark. The rally was fueled by something deceptively simple: Americans keep spending money.
The numbers behind the new highs
Visa’s fiscal third quarter delivered strong results. Revenue climbed 14% year over year to $11.6B, while adjusted earnings per share landed at $3.32, comfortably beating the $3.23 consensus estimate.
Total payments volume crossed $4 trillion for the first time, a 10% jump in constant-currency terms. Processed transactions grew at the same 10% clip.
Cross-border volumes told an even stronger story. Visa posted 13% growth in that category, while Mastercard came in at 12%. Both figures outpaced expectations. A meaningful chunk of that international spending was driven by travel surrounding the World Cup, which has funneled tourists, corporate sponsors, and general enthusiasm across borders at a pace payment networks love to see.
