Visa (V) came out with quarterly earnings of $2.71 per share, beating the Zacks Consensus Estimate of $2.58 per share. This compares to earnings of $2.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.04%. A quarter ago, it was expected that this global payments processor would post earnings of $2.41 per share when it actually produced earnings of $2.42, delivering a surprise of 0.41%. Over the last four quarters, the comp ...

Company Overview - Visa plans to lay off 1,400 employees and contractors by the end of the year, with approximately 1,000 of these cuts in technology positions [1] - The layoffs aim to streamline Visa's international business and will also affect roles in merchant sales and global digital partnerships, particularly those related to FinTech and technology companies [1] Employment Context - A Visa spokesperson indicated that the company is evolving to better serve clients and support growth, which may lead to the elimination of certain roles, but expects to hire more employees in the coming years [2] - Visa currently employs over 30,000 people worldwide [2] Industry Trends - The report coincides with Visa's fourth-quarter and full-year 2024 earnings call [3] - In 2023, major banks cut over 60,000 jobs, marking one of the worst years for job cuts in the banking sector since the 2007-2008 financial crisis [3] - The tech industry has also seen significant layoffs, with over 141,000 jobs cut across 479 companies as of the latest report [4]

Financial Performance - GAAP net income for Q4 2024 was $5.3 billion, a 14% increase YoY, with GAAP EPS at $2.65, up 17% YoY[1][2] - Net revenue for Q4 2024 was $9.6 billion, a 12% increase YoY, driven by growth in payments volume, cross-border volume, and processed transactions[1][3] - GAAP net income for FY 2024 was $19.7 billion, a 14% increase YoY, with GAAP EPS at $9.73, up 17% YoY[11] - Net revenue for FY 2024 was $35.9 billion, a 10% increase YoY, driven by growth in payments volume, cross-border volume, and processed transactions[12] - Visa's Q4 2024 net revenue increased by 12% YoY to $9.617 billion, with full-year net revenue reaching $35.926 billion, a 10% YoY increase[30] - Visa's Q4 2024 net income increased by 14% YoY to $5.318 billion, with full-year net income up 14% YoY to $19.743 billion[30] - Earnings per share for Q4 2024 grew by 17% YoY to $2.65, with full-year earnings per share up 17% YoY to $9.73[30] - Net revenue for the three months ended September 30, 2024, was $9.617 billion, a 11.7% increase from $8.609 billion in the same period in 2023[35] - Net income for the three months ended September 30, 2024, was $5.318 billion, a 13.6% increase from $4.681 billion in the same period in 2023[35] - Operating income for the three months ended September 30, 2024, was $6.349 billion, a 14.4% increase from $5.550 billion in the same period in 2023[35] - Visa's net income for the fiscal 2024 quarter ended September 30 was $5,318 million, compared to $4,681 million in the same quarter of fiscal 2023[37] Revenue Breakdown - Service revenue for Q4 2024 grew by 8% YoY to $4.199 billion, while full-year service revenue increased by 9% YoY to $16.114 billion[30] - Data processing revenue for Q4 2024 rose by 8% YoY to $4.610 billion, with full-year data processing revenue up 11% YoY to $17.714 billion[30] - International transaction revenue for Q4 2024 increased by 9% YoY to $3.468 billion, with full-year international transaction revenue up 9% YoY to $12.665 billion[30] - Other revenue for Q4 2024 surged by 30% YoY to $969 million, with full-year other revenue up 29% YoY to $3.197 billion[30] Transaction and Volume Metrics - Payments volume increased 8% YoY in Q4 2024, with cross-border volume excluding intra-Europe up 13% YoY[1][4] - Total processed transactions in Q4 2024 were 61.5 billion, a 10% increase YoY[5] - Total processed transactions for FY 2024 were 233.8 billion, a 10% increase YoY[13] - Payments volume for Q4 2024 increased by 8% YoY, with full-year payments volume up 8% YoY[31] - Cross-border volume excluding intra-Europe for Q4 2024 grew by 13% YoY, with full-year cross-border volume excluding intra-Europe up 15% YoY[31] - Processed transactions for Q4 2024 increased by 10% YoY, with full-year processed transactions up 10% YoY[31] Operating Expenses - GAAP operating expenses for Q4 2024 were $3.3 billion, a 7% increase YoY, primarily due to higher marketing and personnel expenses[7] - Total operating expenses for the three months ended September 30, 2024, were $3.268 billion, a 6.8% increase from $3.059 billion in the same period in 2023[35] - Total operating expenses for the fiscal 2024 quarter ended September 30 were $3,268 million, up from $3,059 million in the same quarter of fiscal 2023[37] - Operating expenses for the reported period were $3,059 million, with non-GAAP operating expenses at $2,883 million[47] - Operating expenses for the twelve months ended September 30, 2023, were $11,653 million, with non-GAAP operating expenses at $10,481 million[49] Share Repurchases and Dividends - Visa repurchased 22 million shares of class A common stock in Q4 2024 for $5.8 billion, with a total of 62 million shares repurchased in FY 2024 for $16.7 billion[22] - Repurchases of Class A common stock for the twelve months ended September 30, 2024, were $16.713 billion, a 38.1% increase from $12.101 billion in the same period in 2023[36] - Dividends paid for the twelve months ended September 30, 2024, were $4.217 billion, a 12.4% increase from $3.751 billion in the same period in 2023[36] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the twelve months ended September 30, 2024, was $19.950 billion, a 3.9% decrease from $20.755 billion in the same period in 2023[36] - Cash, cash equivalents, restricted cash, and restricted cash equivalents as of the end of the period for the twelve months ended September 30, 2024, were $19.763 billion, a 10.1% decrease from $21.990 billion in the same period in 2023[36] - Purchases of property, equipment, and technology for the twelve months ended September 30, 2024, were $1.257 billion, an 18.7% increase from $1.059 billion in the same period in 2023[36] - Acquisitions, net of cash and restricted cash acquired for the twelve months ended September 30, 2024, were $915 million, compared to $0 in the same period in 2023[36] Non-GAAP Financial Metrics - Visa's non-GAAP net income for the three months ended September 30, 2024 was $5,425 million, compared to $5,318 million on a GAAP basis[46] - Visa's non-GAAP diluted earnings per share for the three months ended September 30, 2024 was $2.71, compared to $2.65 on a GAAP basis[46] - Visa's non-GAAP operating expenses for the three months ended September 30, 2024 were $3,192 million, compared to $3,268 million on a GAAP basis[46] - Visa's non-GAAP net income for the twelve months ended September 30, 2024 was $20,389 million, compared to $19,743 million on a GAAP basis[46] - Visa's non-GAAP diluted earnings per share for the twelve months ended September 30, 2024 was $10.05, compared to $9.73 on a GAAP basis[46] - Visa's non-GAAP operating expenses for the twelve months ended September 30, 2024 were $11,609 million, compared to $12,331 million on a GAAP basis[46] - Visa's non-GAAP effective income tax rate for the twelve months ended September 30, 2024 was 17.6%, compared to 17.4% on a GAAP basis[46] - Visa's non-GAAP nonoperating income for the twelve months ended September 30, 2024 was $415 million, compared to $321 million on a GAAP basis[46] - Net income as reported was $4,681 million, with non-GAAP net income at $4,816 million[47] - Diluted earnings per share as reported were $2.27, with non-GAAP diluted earnings per share at $2.33[47] - Effective income tax rate as reported was 16.9%, with non-GAAP effective income tax rate at 17.0%[47] - Net income for the twelve months ended September 30, 2023, was $17,273 million, with non-GAAP net income at $18,280 million[49] - Diluted earnings per share for the twelve months ended September 30, 2023, were $8.28, with non-GAAP diluted earnings per share at $8.77[49] - Effective income tax rate for the twelve months ended September 30, 2023, was 17.9%, with non-GAAP effective income tax rate at 18.1%[49] Acquisitions - Visa announced the acquisition of Featurespace, a developer of real-time AI payments protection technology, expected to close in FY 2025[21]

Stablecoins are coming for Visa's cash cow.Visa (V 0.14%) has enjoyed an incredibly profitable position in the payments industry for decades, and it's benefited from the world's move toward digital payments. But Visa isn't the most efficient means of moving money around, and payment processors are starting to invest big in stablecoins to make the payments system more efficient. In this video, Travis Hoium shows why this is such a big deal to Visa today.*Stock prices used were end-of-day prices of Oct. 28, 2 ...

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate Visa Inc. (NYSE: V) for potential violations of the federal securities laws. If you invested in Visa, you are encouraged to obtain additional information by visiting https://rosenlegal.com/case/visa-inc/. Why did Visa’s Stock Drop? On September 24, 2024, during market hours, the United States Department of Justice issued a release entitled “Justice Department Sues Visa for Monopolizing Deb ...

Visa Inc. (V) is set to report fourth-quarter fiscal 2024 results on Oct. 29, 2024, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $2.58 per shareon revenues of $9.49 billion.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The fiscal fourth-quarter earnings estimate remained stable over the past 60 days. The bottom-line projection indicates a year-over-year increase of 10.7%. The Zacks Consensus Estimate for quar ...

The upcoming report from Visa (V) is expected to reveal quarterly earnings of $2.58 per share, indicating an increase of 10.7% compared to the year-ago period. Analysts forecast revenues of $9.49 billion, representing an increase of 10.2% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveals ...

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Visa Inc. (“Visa” or “the Company”) (NYSE: V). Investors who purchased Visa securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/V. Investigation Details On September 24, 2024, The United States Department of Justice issued a release entitled “Justice Department Sues Visa ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Visa (V) .Visa currently has an average brokerage recommendation (ABR) of 1.45, on a scale of 1 ...

NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Rosen Law Firm, a leading securities law firm, announces an investigation into Visa Inc. (NYSE: V) for potential violations of the federal securities laws.If you purchased Visa securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.To join the prospective class action, go to https://rosenlegal.com/submit-f ...