Key facts
- Visa's third-quarter profit rose to $6.29 billion.
- Visa's payment volumes exceeded $4 trillion for the first time.
- S&P Global's adjusted earnings per share increased by 23% in the second quarter.
- S&P Global acquired datacenterHawk and a majority stake in Agusto & Co.
- PayPal raised its 2026 profit forecast.
- GSK launched a £1.9 billion ($2.52 billion) cost savings initiative.
- Centene's medical loss ratio decreased to 89.6% from 93%.
- Corning's shares fell over 16% on a weaker-than-expected Q3 sales forecast.
- Lazard's quarterly profit dropped 91% and revenue declined 9% in its advisory unit.
- Logitech received a $61 million refund of tariffs.
- Textron cited increased aircraft pricing as a key driver for positive results.
Visa reported a third-quarter profit of $6.29 billion, exceeding estimates due to robust consumer spending and travel demand. Payment volumes surpassed $4 trillion for the first time, and the company initiated a new $20 billion share repurchase program. S&P Global announced a 23% increase in adjusted earnings per share for the second quarter, attributing the growth to strong demand for its ratings, indices, and market intelligence products. The company also expanded its analytics and credit ratings businesses through acquisitions, including datacenterHawk and a majority stake in Agusto & Co. PayPal raised its 2026 profit forecast and detailed cost-saving measures, signaling potential openness to a higher takeover offer while highlighting its ongoing turnaround strategy, following better-than-expected Q2 earnings and revenue. GSK reported second-quarter profit above expectations and launched a £1.9 billion ($2.52 billion) cost savings initiative to bolster its development pipeline and support long-term sales ambitions. Centene raised its annual profit and revenue forecasts after beating quarterly earnings estimates, driven by improved cost management and better pricing for its Obamacare plans, with its medical loss ratio decreasing to 89.6% from 93% a year prior. Textron surpassed analyst expectations for profit and revenue in the second quarter, driven by increased aircraft pricing and strong performance in its Bell helicopter division. Logitech reported better-than-expected quarterly sales and profit, boosted by a $61 million refund of tariffs imposed under U.S. President Donald Trump, reaffirming its fiscal year 2025 outlook but withdrawing its fiscal year 2026 guidance due to tariff uncertainty. In contrast, Corning's shares dropped over 16% in premarket trading after projecting third-quarter sales below Wall Street expectations, with slower growth in its key fiber optics unit impacting the forecast despite strong demand for generative AI infrastructure. Lazard reported a 91% drop in second-quarter profit and a 9% revenue decline in its advisory unit, prompting a restructuring that involves replacing over 80 managing directors and plans to build a U.S. IPO advisory business.