Visa Q4 2023 Earnings Report
Key Takeaways
Visa Inc. reported strong Q4 2023 results with net revenues of $8.6 billion, an 11% increase year-over-year. GAAP net income was $4.7 billion, or $2.27 per share, while non-GAAP net income was $4.8 billion, or $2.33 per share. The company saw growth in payments volume, cross-border volume, and processed transactions.
Net revenues increased by 11% to $8.6 billion.
GAAP net income was $4.7 billion, or $2.27 per share.
Non-GAAP net income reached $4.8 billion, or $2.33 per share.
Payments volume and processed transaction growth were stable, while cross-border volume growth remained strong.
Visa
Visa
Visa Revenue by Segment
Forward Guidance
Visa provided its financial outlook for fiscal year 2024, expecting high single-digit to low double-digit growth in net revenues on a GAAP nominal-dollar basis. The company anticipates approximately flat operating expense growth and high-teens growth in diluted Class A common stock earnings per share. On an adjusted constant-dollar basis, Visa projects low double-digit revenue growth and low-teens earnings per share growth.
Positive Outlook
- High single-digit to low double-digit growth in net revenues (GAAP nominal-dollar basis)
- Approximately flat operating expense growth
- High-teens growth in diluted Class A common stock earnings per share (GAAP nominal-dollar basis)
- Low double-digit revenue growth (Adjusted Constant-Dollar Basis)
- Low-teens earnings per share growth (Adjusted Constant-Dollar Basis)
Challenges Ahead
- Approximately 9% increase in operating expenses (Non-GAAP Adjustments)
- Approximately (5.5%) decrease in diluted Class A common stock earnings per share (Non-GAAP Adjustments)
- Approximately 1% negative impact from foreign currency on net revenues
- Approximately 1.5% negative impact from foreign currency on operating expenses
- Approximately 0.5% negative impact from foreign currency on earnings per share