Visa Q3 2020 Earnings Report
Key Takeaways
Visa Inc. reported a decrease in net revenues by 17% to $4.8 billion due to declines in payments volume, cross-border volume and processed transactions, driven by the impact of COVID-19. GAAP net income was $2.4 billion, or $1.07 per share, a decrease of 23% and non-GAAP net income was $2.3 billion, or $1.06 per share, a decrease of 24%.
Net revenues decreased by 17% to $4.8 billion.
GAAP net income was $2.4 billion or $1.07 per share, a decrease of 23% and 22%, respectively.
Non-GAAP net income was $2.3 billion or $1.06 per share, a decrease of 24% and 23%, respectively.
Payments volume, cross-border volume and processed transactions declined year-over-year due to COVID-19, but improved each month throughout the quarter.
Visa
Visa
Visa Revenue by Segment
Forward Guidance
The worldwide spread of COVID-19 has created significant uncertainty in the global economy and the extent to which COVID-19 will continue to impact the Company’s future results is difficult to reasonably estimate at this time; therefore we are not providing a fiscal full-year 2020 outlook.