Home News Visa Beats Earnings Estimate on Robust Consumer Spending

Visa Beats Earnings Estimate on Robust Consumer Spending

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Key Takeaways

  • Visa’s Q4 earnings at $4.9 billion, or $2.39 per diluted share, beat analyst expectations.
  • The company’s revenue grew 9% to $8.6 billion.
  • Robust consumer spending drove up payments volumes by 8%.

Visa Inc. (V)’s first quarter results for fiscal year 2024 beat analyst expectations bolstered by credit card transaction volumes due to robust consumer spending. The company’s shares are down 2.42% in after-hours trading.

Net income of $4.9 billion, or $2.39 per diluted share, was up versus the $4.7 billion or $2.31 per share analyst consensus compiled by Visible Alpha. Revenue of $8.6 billion for the three months ending December was up by 9%.

Q1 FY 2024 Analysts’ Estimates for Fiscal Q1 2024 Q1 FY2023 Year-over-year % change
Revenue $8.6 billion  $8.5 billion  $7.9 billion 9%
Diluted Earnings Per Share $2.39  $2.31  $1.99 20%
Net Income $4.9 billion  $4.7 billion  $4.2 billion 17%

“Our 2024 fiscal year is off to a solid start. In our first quarter, net revenues grew 9% and GAAP EPS grew 20%, driven by relatively stable growth in overall payments volume and processed transactions, plus strong growth in cross-border volume,” said Visa CEO Ryan McInerney in a prepared statement.

Visa has benefitted from robust consumer spending over the past year and the first quarter of its fiscal year was no different. Visa’s payments volume increased by 8% and its processed transactions grew 9%.

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