Visa (V) reported Q1 FY 2021 earnings of $1.42 per share (versus $1.46 per share in Q1 FY 2020), beating analysts’ consensus estimate of $1.28 per share.

The company’s quarterly revenues amounted to $5.687 bln (-6.1% y/y), beating analysts’ consensus estimate of $5.516 bln.

The company also reported that its board authorized a new $8.0 bln share repurchase program, bringing total funds available for repurchase to over $11 bln.

V rose to $199.45 (+0.62%) in pre-market trading.