Jan 25 Reuters Visa39;s tepid forecast for currentquarter revenue growth on Thursday eclipsed a marketbeating earnings report that was powered by customers swiping their cards for big purchases during the holiday shopping period and robust travel.

Even so, executives at Visa struck an optimistic tone over the outlook for spending across the year.

Severe winter storms that hit the U.S. have weighed on volumes at the start of the year, CFO Chris Suh said in an interview with Reuters, but added that the company is not worried about any broader impact and expects it to get smoothed out over the quarter.

As it turns out, no one goes out in negative 10 degree weather … Conversely, in cities where the weather has been good, there39;s been no change in volume, Suh said.

Shares of Visa, the world39;s largest payments processor, were down 3 in extended trading after the company forecast an increase of upper mid to high singledigit in secondquarter net revenue. The outlook compares with an 11 growth in the corresponding period in 2023.

The outlook for payments firms has been marred by worries that a slowing economy and highinterest rates will continue to pressure the wallets of consumers, particularly those in the lowerincome bracket.

Edward Jones analyst Logan Purk said the results show that consumer spending remains robust, but also reveal that it is starting to slow down.

We believe the mixed guidance and slowing transactions will likely weigh on the stock, Purk…