Visa Reports Fiscal Second Quarter 2024 Results
San Francisco, CA, April 23, 2024 – Visa (NYSE: V)
• GAAP net income of $4.7B or $2.29 per share and non-GAAP net income of $5.1B or $2.51 per share
• Net revenue of $8.8B, an increase of 10% on a nominal and constant-dollar basis
• Growth in payments volume, processed transactions and cross-border volume remained relatively stable
• Share repurchases and dividends of $3.8B
During the three months ended March 31, 2024, Visa repurchased 9.7 million shares of class A common stock at an
average cost of $280.80 per share for $2.7 billion. The Company had $23.6 billion of remaining authorized funds for share
repurchases as of March 31, 2024.
On April 23, 2024, the board of directors declared a quarterly cash dividend of $0.520 per share of class A common stock
(determined in the case of all other outstanding common and preferred stock on an as-converted basis) payable on
June 3, 2024, to all holders of record as of May 17, 2024.
Ryan McInerney, Chief Executive
Officer, Visa, commented on the
results:
"Visa delivered strong results in the
second quarter, with net revenue up
10%, GAAP EPS up 12%, and non-
GAAP EPS up 20%. Overall payments
volume grew 8% and cross-border
volume grew 16%, driven by stable
consumer spending. As we head into
the second half of the year and beyond,
we remain focused on the trillions of
dollars of opportunity in consumer
payments and new flows and on
continuing to deepen our partnerships
with clients around the world by adding
value across our network of networks."
