Visa Inc. has reported its latest financial results for the three months ended December 31, 2024, providing a comprehensive overview of its financial performance. The company's net revenue for the period stood at $9.51 billion, marking a 10% increase from the same period in 2023 when it was $8.63 billion. This increase was primarily driven by the growth in processed transactions, nominal cross-border volume, and nominal payments volume, partially offset by higher client incentives.
The company's operating expenses for the same period amounted to $3.28 billion, reflecting a 22% increase from the previous year's $2.68 billion. This surge was primarily attributed to higher personnel and general and administrative expenses. Additionally, exchange rate movements negatively impacted operating expenses by approximately one percentage point.
Visa's net income for the three months ended December 31, 2024, was $5.12 billion, a 5% increase from the prior year's $4.89 billion. Diluted earnings per share also saw an 8% increase, rising to $2.58 from $2.39 in 2023.
In December 2024, Visa acquired Featurespace Limited, a developer of real-time artificial intelligence payments protection technology, for a purchase consideration of $946 million. Additionally, the company recorded an additional accrual of $27 million for claims associated with the interchange multidistrict litigation.
During the same period, Visa repurchased 13 million shares of its class A common stock in the open market for $3.9 billion. As of December 31, 2024, the company's share repurchase program had remaining authorized funds of $9.1 billion.
Visa also reported non-GAAP financial results, which exclude certain items not representative of its continuing operations. These non-GAAP measures provide greater transparency into management’s view and assessment of the company's ongoing operating performance.
Furthermore, payments volume and processed transactions are key metrics for Visa's performance. The company's total nominal volume for the three months ended December 31, 2024, was $4.03 trillion, a 5% increase from the prior year's $3.83 trillion. The number of processed transactions during the period also saw a significant 11% increase, reaching 63.8 billion.
Visa's financial results demonstrate its continued growth and strategic investments, positioning the company as a key player in the global payments technology industry. As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $344.36. For more information, read the company's full 10-Q submission here.
