Visa Inc. (NYSE:V) and Coca-Cola Co. (NYSE:KO) offered different signals on consumer conditions in their latest earnings calls, with Visa reporting resilient spending across consumer groups while Coca-Cola said value remains a consideration across markets and consumers.
Visa Sees Spending Holding Up
Visa’s CFO Chris Suh said U.S. payments volume rose 10% year over year in the fiscal fourth quarter, with credit spending up 11% and debit spending up 9%.
“Growth across consumer spend bands remained relatively consistent with prior quarters, with the highest spend band continuing to grow the fastest,” Suh said on the company’s fourth quarter earnings call. “We did not see signs of the lower-spend consumer weakening in our volumes.”
CEO Ryan McInerney pointed to employment and wage growth while discussing U.S. spending.
“The uncertainty remains elevated. But in the context of strong employment, people have jobs, they have real wage growth, they are spending,” McInerney said.
Coca-Cola Says Consumers Are Focused On Value
Coca-Cola CEO Henrique Braun said value considerations were evident across the company’s global consumer base.
“We have seen that value continues to be something that cuts across every market and every consumer that we see all over the world,” Braun said on the company’s third-quarter earnings call.
President and CFO John Murphy separately said the restaurant industry “continues to be under pressure,” with scanner data showing stronger at-home business than away-from-home consumption.
Murphy said the pattern was “largely driven by consumer pressures” and that underlying pressure across the consumer landscape could continue into 2027.
Consumer Sentiment Remains Subdued
The comments come as University of Michigan consumer-sentiment data continues to show weak confidence.
A JHS Wealth chart, shared by Chief Market Strategist at HB Wealth, Gina Martin Adams, using University of Michigan Surveys of Consumers data through September, showed sentiment remaining low across political affiliations, despite wide differences between groups.
The data provides broader context for the companies’ comments: Visa reported continued spending resilience even as McInerney acknowledged elevated uncertainty, while Coca-Cola said consumers were continuing to prioritize value.
How Have These Stocks Performed?
| Stocks | 1-Month | 6-Months | YTD | 1-Year | 5-Years |
| V | 9.39% | 29.78% | 14.58% | 15.54% | 86.24% |
| KO | 3.84% | 20.86% | 30.42% | 30.15% | 64.23% |
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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