Q4 2024 Visa Inc Earnings Call Transcript
Key Points
- Visa Inc (V) reported strong financial results for the fourth quarter, with net revenue of $9.6 billion, up 12% year-over-year, and EPS up 16%.
- The company saw significant growth in cross-border volume, excluding intra-Europe, which rose 13%, and processed transactions grew 10% year-over-year.
- Visa Inc (V) continues to expand its consumer payments business, with over 4.6 billion credentials, up 7% year-over-year, and 11.5 billion tokens, with more than 30% of total transactions tokenized.
- The company has made significant strides in new flows, with revenue growing 22% year-over-year in constant dollars, and Visa Direct transactions increasing by 38%.
- Visa Inc (V) has successfully renewed and expanded several key partnerships globally, including agreements with major clients like Grupo Pramerica, SMCC, Alrajhi, and Standard Chartered Bank.
- Visa Inc (V) faces regulatory challenges, including a lawsuit by the Department of Justice, which the company believes is meritless.
- The company experienced slower growth in Asia Pacific payments volume, primarily due to macroeconomic conditions, particularly in Mainland China.
- Cross-border travel volume growth was lower than expected, mainly due to challenges in Asia Pacific travel corridors.
- Visa Inc (V) anticipates a significant increase in client incentives in fiscal 2025, which could impact net revenue growth.
- The company expects a step down in adjusted net revenue growth from Q4 2024 to Q1 2025 due to various factors, including increased incentives and the timing of pricing actions.
Welcome to Visa's fiscal fourth quarter and full year 2024 earnings conference call. (Operator Instructions) Today's conference is being recorded, if you have any objections, you may disconnect at this time. I would now like to turn the conference over to your host, Ms. Jennifer Como, Senior Vice President and Global Head of Investor relations. Ms. Como, you may begin.
Thank you. Good afternoon, everyone and welcome to Visa's fiscal fourth quarter and full year 2024 earnings call. Joining us today are Ryan McInerney, Visa's Chief Executive Officer; and Chris Suh, Visa's Chief Financial Officer.
This call is being webcast on the investor relations section of our website at investor.visa.com. A replay will be archived on our site for 30 days. A slide deck containing financial and statistical highlights has been posted on our IR website.
Let me also remind you that this presentation includes forward-looking statements. These statements are not guarantees of
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