Core Insights - Visa reported Q3 revenue of $10.2 billion for fiscal year 2025, an increase from $8.9 billion in the same period last year, exceeding market expectations of $9.83 billion [1] Financial Performance - Q3 revenue of $10.2 billion represents a year-over-year growth of approximately 14.6% from $8.9 billion [1] - The reported revenue surpassed market expectations by approximately 4.3% [1]

Core Insights - CSX Corporation reported mixed second-quarter 2025 results with earnings per share of 44 cents, beating the Zacks Consensus Estimate of 42 cents, but revenues of $3.57 billion missed the estimate of $3.58 billion, reflecting a year-over-year decline of 3.4% [1][2][9] Financial Performance - Total revenues decreased by 3.4% year-over-year to $3.57 billion, primarily due to lower export coal prices, reduced fuel surcharge, and a decline in merchandise volume, partially offset by higher merchandise pricing and growth in intermodal volume [2][9] - Operating income fell 11% year-over-year to $1.28 billion, with an operating margin of 35.9%, down 320 basis points from the previous year [2][3] - Total expenses increased by 2% year-over-year to $2.29 billion, while overall volumes rose marginally by 0.1% [3] Segment Performance - Merchandise revenues declined by 2% year-over-year to $2.25 billion, with merchandise volumes also down by 2% [5] - Intermodal revenues decreased by 3% year-over-year to $491 million, despite a 2% increase in segmental volumes [5] - Coal revenues fell 15% year-over-year to $477 million, although coal volumes increased by 1% [6] Liquidity and Cash Flow - CSX ended the second quarter with cash and cash equivalents of $387 million, down from $1.14 billion at the end of the previous quarter, while long-term debt remained flat at $18.5 billion [7] - The company generated $635 million in cash from operating activities during the quarter [7] Future Outlook - For 2025, CSX anticipates total volume growth and expects lesser year-over-year revenue headwinds in the second half, particularly from lower export coal benchmarks and diesel prices [8][10] - The company remains focused on operational excellence, labor productivity, and efficiency initiatives, with capital expenditures expected to be roughly flat year-over-year, excluding hurricane rebuild spending [10]