Visa Inc. (NYSE: V) reported its fourth-quarter results after Tuesday's closing bell. Here's a look at the details from the report.
The Details: Visa reported quarterly earnings of $2.71 per share, which beat the analyst consensus estimate of $2.58. Quarterly revenue came in at $9.6 billion which beat the analyst consensus estimate of $9.49 billion and was driven by the year-over-year growth in payments volume, cross-border volume and processed transactions.
The company's board of directors increased Visa's quarterly cash dividend by 13% to 59 cents per share.
- Payments volume for the three months ended June 30, 2024, on which fiscal fourth quarter service revenue is recognized, increased 7% over the prior year on a constant-dollar basis.
- Payments volume for the three months ended Sept. 30, 2024, increased 8% over the prior year on a constant-dollar basis.
- Cross-border volume excluding transactions within Europe, which drives Visa's international transaction revenue, increased 13% on a constant-dollar basis for the quarter. Total cross-border volume on a constant-dollar basis increased 13% in the quarter.
- Fiscal fourth quarter service revenue was $4.2 billion, an increase of 8% over the prior year, and is recognized based on payments volume in the prior quarter.
- Data processing revenue rose 8% over the prior year to $4.6 billion.
- International transaction revenue grew 9% over the prior year to $3.5 billion.
- Other revenue of $969 million rose 30% over the prior year.