Visa : Presentation ( PDF 112 KB )

Fiscal Second Quarter 2022 Financial Results

April 26, 2022

GAAP Nominal-Dollar Basis

25%

25.8%

11%

Non-GAAP Nominal-Dollar Basis(1)

N/A

N/A

16%

19.7% 19.6%

23%

30%

Foreign Currency Impact

~1%

~3%

Acquisition Impact

(~0.5%)

0%

(~1.5%)

0%

~0% ~0%

Adjusted Constant-Dollar Basis(1)

26%

25.8%

17%

19.6%

30%

YoY Increase / (Decrease)

(1) Refer to Non-GAAP and Adjusted Constant-Dollar Results Footnote and GAAP to Non-GAAP Operating Expenses Results for further information.

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Non-GAAP and Adjusted Constant-Dollar Results Footnote

We use non-GAAP and adjusted constant-dollar financial measures of our performance which exclude certain items which we believe are not representative of our continuing operations, as they may be non-recurring or have no cash impact, and may distort our longer-term operating trends. We consider non-GAAP and adjusted constant-dollar measures useful to investors because they provide greater transparency into management's view and assessment of our ongoing operating performance. Non-GAAP and adjusted constant-dollar financial measures should not be relied upon as substitutes for, or considered in isolation from, measures calculated in accordance with GAAP.

We exclude the following to arrive at our adjusted constant-dollar financial results:

• • impact of non-GAAP items (refer to the financial tables in the earnings release for further details);

• • impact of foreign currency to provide currency-neutral growth rates which management believes are a better reflection of the underlying performance of our business. Our results are denominated in U.S. dollars and are calculated each quarter by applying an established U.S. dollar/foreign currency exchange rate for each local currency. To eliminate the impact of foreign currency fluctuations against the U.S. dollar in measuring financial performance, Visa Inc. reports year-over-year growth using a fixed current year U.S. dollar/foreign currency exchange rate for the current and prior year periods; and

• • impact of acquisitions, which include operating revenues and expenses of the acquired entities that were not in the entire quarter of the previous year and the incremental interest expense or forgone interest income as a result of funding the acquisition through debt or cash, respectively, which management believes enhances the comparability of our results. These amounts will be adjusted until we lap the quarter that the entity was acquired in, at which time there will be comparable results within each reported period.

• • Payments volume, cross-border volume and processed transaction growth remained robust

• • Returned $3.7B of capital to shareholders in the form of share repurchases and dividends

Income Statement Summary

In billions, except percentages and per share data. % change is calculated over the comparable prior-year period.	Q2 2022
USD	% Change

$7.2

Net Revenues GAAP Net Income

25%

$3.6

21%

GAAP Earnings Per Share Non-GAAP Net Income(1) Non-GAAP Earnings Per Share(1)

$1.70

23%

$3.8

27%

$1.79

30%

(1) Refer to the financial tables in the earnings release for further details and a reconciliation of the GAAP to non-GAAP measures presented.

Key Business Drivers

YoY increase / (decrease), volume in constant dollars

Q2 2022

Payments Volume

Cross-Border Volume Excluding Intra-Europe(2) Cross-Border Volume Total

Processed Transactions

17% 47% 38% 19%

(2) Cross-border volume excluding transactions within Europe.

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Operational Performance Metrics Monthly Growth

2021 - 2022 U.S. Payments Volume Growth

(20%)

100%

80%

60%

40%

20%

0%

TotalCard PresentCard Not PresentCard Not Present, Excluding Travel

JanFebMarAprMayJunJulAug Sep Oct Nov Dec Jan Feb Mar Apr 1-21

Jan

Note: February growth rate for total U.S. payments volume would have been 9% in 2021 if the impact of February 29, 2020 was excluded.

FebMar

Results are calculated over the comparable prior-year period. Refer to Operational Performance Data footnote for further information on these metrics.

AprMayJunJulAug Sep Oct Nov Dec Jan Feb Mar Apr 1-21

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