Visa achieved a historic milestone by surpassing $4 trillion in quarterly payments volume, demonstrating robust growth in both consumer and commercial transactions. This strong performance was further bolstered by a significant 34% year-over-year increase in value-added services revenue, largely driven by FIFA World Cup marketing initiatives. Despite this financial strength, the company announced a workforce reduction, primarily impacting technology and product roles. Management has raised its full-year earnings and revenue growth forecasts, signaling confidence in continued business momentum. The savings from these layoffs are intended to be reinvested into future growth areas like stablecoin and agentic commerce.
https://www.tikr.com/blog/visas-q3-earnings-crossed-4-trillion-in-volume-then-came-the-layoffs