Fiscal Second Quarter 2024 Financial Results
April 23, 2024
©2024 Visa. All rights reserved.
Fiscal Second Quarter 2024 Results
Net | Operating | Effective Income | Diluted Class A | |
YoY increase / (decrease) except for Effective Income Tax Rate | Common Stock | |||
Revenue | Expenses | Tax Rate | Earnings Per Share | |
GAAP Nominal-Dollar Basis | 10% | 29% | 15.4% | 12% |
Non-GAAPNominal-Dollar Basis(1) | 10% | 11% | 16.0% | 20% |
Foreign Currency Impact(2) | ~0.5% | (~0.5%) | N/A | ~1.0% |
Acquisition Impact(2) | ~0% | (~0.5%) | N/A | ~0.5% |
Adjusted Constant-Dollar Basis(1) | 10% | 10% | 16.0% | 21% |
- Refer to Non-GAAP Financial Measures within the appendix for further information.
- Foreign currency and acquisition impacts, if applicable, are rounded to the nearest half point.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 1 |
Fiscal Second Quarter 2024 Results and Other Highlights
- Growth in payments volume, processed transactions and cross-border volume remained relatively stable
- Share repurchases and dividends of $3.8B
Income Statement Summary
Q2 2024 | ||
In billions, except percentages and per share data. % change is calculated over the comparable prior-year period. | USD | % Change |
Net Revenue | $8.8 | 10% |
GAAP Net Income | $4.7 | 10% |
GAAP Earnings Per Share | $2.29 | 12% |
Non-GAAP Net Income(1) | $5.1 | 17% |
Non-GAAP Earnings Per Share(1) | $2.51 | 20% |
- Refer to Non-GAAP Financial Measures within the appendix for further information.
Key Business Drivers
YoY increase / (decrease), volume in constant dollars | Q2 2024 |
Payments Volume | 8% |
Cross-Border Volume Excluding Intra-Europe(2) | 16% |
Cross-Border Volume Total | 16% |
Processed Transactions | 11% |
- Cross-bordervolume excluding transactions within Europe.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 2 |
Operational Performance Metrics through April 21, 2024
2024 U.S. Payments Volume Growth
Total Credit Debit
10%
8%
6%
4%
2%
0%
Jan | Feb* | Mar | Apr |
1 - 21 |
2024 Cross-Border Volume Growth
Total | Total (ex. Intra-EU) | ||||||
25% | CP + CNP Travel (ex. Intra-EU) | CNP, Ex. Travel (ex. Intra-EU) | |||||
20% | |||||||
15% | |||||||
10% | |||||||
Jan | Feb* | Mar | Apr | ||||
*February growth includes the benefit from Leap Year. | 1 - 21 | ||||||
2024 Processed Transactions Growth
14%
12%
10%
8%
6%
4%
Jan | Feb* | Mar | Apr |
1 - 21 |
2024 Cross-Border Volume Index vs. 5 Years Ago
Total | Total (ex. Intra-EU) | |
CP + CNP Travel (ex. Intra-EU) | CNP, Ex. Travel (ex. Intra-EU) | |
220
200
180
160
140
Jan | Feb* | Mar | Apr |
1 - 21 |
Notes:
- All figures shown on a constant-dollar basis and growth rates are calculated over the comparable prior year period. Refer to Operational Performance Data Footnote for further information on these metrics.
- CP denotes Card Present and CNP denotes Card Not Present.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 3 |
Payments Volume Growth: Visa | Q1 FY2024 Q2 FY2024 |
8% | 10% | 9% | 9% |
7% | |||
5% | |||
Nominal
Credit | Debit | Total |
8% | 8% | 9% | 9% | 8% | 8% |
Constant
Credit | Debit | Total |
Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 4 |
Payments Volume Growth: U.S. and International | Q1 FY2024 | Q2 FY2024 | |||||
U.S. | International | Visa | |||||
15% | |||||||
12% | 12% | ||||||
9% | 10% | 9% | |||||
8% | 9% | ||||||
8% | 7% | ||||||
6% | 6% | 6% | 6% | ||||
5% | 5% | ||||||
5% | 5% |
Nominal
Credit | Debit | Total | Credit | Debit | Total | Credit | Debit | Total | ||||
13% | 12% | |||||||||||
11% | 12% | |||||||||||
11% | ||||||||||||
9% | 8% | 8% | 9% | 9% | 8% | 8% | ||||||
6% | 6% | 6% | 6% | |||||||||
5% | 5% |
Constant
Credit | Debit | Total | Credit | Debit | Total | Credit | Debit | Total |
Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 5 |
Transactions and Cross-Border Volume Results
Q2 FY2024
Transactions | Cross-Border |
17%
10% | 11% | 11% |
16%16%
Total | Payments | Processed | Total | Total | Constant |
Transaction Count (in millions) | Nominal | Constant | (excluding (1) | ||
Intra-Europe) |
Credit | 24,698 | 24,504 | |
Debit | 47,383 | 43,418 | |
Total | 72,081 | 67,922 | 55,456 |
- Cross-bordervolume excluding transactions within Europe.
Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 6 |
Total Cards (in billions)
Q1 FY2024 | 2023 | 2024 | |
Credit | Debit | Visa | |
4% | 7% | 6% |
2.9
1.21.3
4.4
4.2
3.1
Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 7 |
Operational Performance Data Footnote
Current quarter payments volume and other select metrics are provided in the operational performance data supplement to provide more recent operating data. Service revenue continues to be recognized based on payments volume in the prior quarter.
Total transactions represent payments and cash transactions as reported by Visa clients on their operating certificates. Processed transactions include payments and cash transactions, and represent transactions involving cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands processed on Visa's networks.
Reported volume, transaction and card information may be updated to reflect revised client submissions or other adjustments. Prior-period updates are not material. Figures may not recalculate exactly due to rounding. Percentage changes and totals are calculated based on unrounded numbers. Constant-dollar growth rates exclude the impact of foreign currency fluctuations against the U.S. dollar in measuring performance.
The data no longer includes volumes and transactions for Russia clients starting the three months ended June 30, 2022 and accounts and cards starting the three months ended March 31, 2022.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 8 |
Revenue Results
Q2 FY2024
37%
12% | 12% | |
9% | 10% | |
7% | ||
Service | Data | International | Other | Client | Net |
Revenue | Processing | Transaction Revenue | Revenue | Incentives | Revenue |
Revenue |
Reported Nominal USD (in millions)
$4,033 | $4,259 | $2,984 | $756 | ($3,257) | $8,775 |
Note: The chart results are calculated over the comparable prior-year period. Percentage changes are calculated based on unrounded numbers.
Fiscal Second Quarter 2024 Financial Results | ©2024 Visa. All rights reserved. | 9 |
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Visa Inc. published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 20:07:32 UTC.