Q3 2024 Visa Inc Earnings Call Transcript
Key Points
- Visa Inc (V) reported strong third-quarter results with $8.9 billion in net revenue, up 10% year-over-year, and EPS up 12%.
- Cross-border volume excluding intra-Europe rose 14%, and processed transactions grew 10% year-over-year.
- Visa Inc (V) achieved a global Net Promoter Score (NPS) of 76, up 3 points from last year, indicating strong client satisfaction.
- Value-added services revenue grew 23% in the third quarter in constant dollars, driven by issuing solutions, acceptance solutions, and advisory services.
- Visa Direct overall transactions grew 41% for the quarter to 2.6 billion, showcasing strong growth in new flows revenue.
- US payments volume growth was relatively modest at 5% year-over-year, with a slight deceleration to 4% in July.
- Asia Pacific payments volume slowed to less than 0.5 point of year-over-year growth in constant dollars, driven primarily by the macroeconomic environment in Mainland China.
- International transaction revenue was up 9% versus the 14% increase in constant dollar cross-border volume, impacted by lapping higher currency volatility from last year.
- Operating expenses grew 14%, primarily due to increases in general and administrative personnel and marketing expenses, including spend related to the Olympics.
- The settlement reached for the injunctive relief class was rejected by the court, creating uncertainty around future legal outcomes.
Third-quarter 2024 earnings conference call. (Operator Instructions) 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 third-quarter 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 future performance, and our actual results could differ materially as a result of many factors. Additional information concerning those factors is available in our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
