🤼 AI vs Market: One year after launch, how did ProPicks AI perform in 2024?See what you missed

Visa beats Q4 expectations, shares rise on strong revenue growth

Published 29/10/2024, 20:16
© Reuters.
V
-

Visa (NYSE:V)reported fourth-quarter earnings that surpassed analyst estimates, driven by robust revenue growth across its business segments. The company's shares rose 2% in after-hours trading following the announcement.

The global payments technology company reported adjusted earnings per share (EPS) of $2.71 for the quarter ended September 30, 2024, beating the analyst consensus of $2.58. Revenue for the quarter came in at $9.6 billion, exceeding the expected $9.49 billion and representing a 12% increase YoY on both a nominal and constant-dollar basis.

Visa's strong performance was underpinned by stable growth in key metrics. Payments volume for the three months ended September 30, 2024, increased 8% YoY on a constant-dollar basis. Cross-border volume, excluding transactions within Europe, rose 13% on a constant-dollar basis. Total processed transactions reached 61.5 billion, a 10% increase over the prior year.

Ryan McInerney, Chief Executive Officer of Visa, commented on the results: "Visa had a robust fourth quarter to finish a very strong fiscal year. In the fourth quarter, net revenue and GAAP EPS grew by 12% and 17%, respectively, driven by relatively stable growth in payments volume, cross-border volume and processed transactions plus strong momentum across new flows and value added services."

The company's board of directors approved a 13% increase in Visa's quarterly cash dividend to $0.590 per share, reflecting confidence in the company's financial position and future prospects.

For the full fiscal year 2024, Visa reported net revenue of $35.9 billion, a 10% increase on both a nominal and constant-dollar basis. The company's GAAP net income for the year was $19.7 billion, or $9.73 per share, while non-GAAP net income reached $20.4 billion, or $10.05 per share.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.