Visa Inc. (Visa) reported a robust financial performance for the fiscal year ended September 30, 2024, with a 10% increase in net revenue to $35.926 billion compared to $32.653 billion in the previous year. The company's operating expenses rose by 6% to $12.331 billion, while net income saw a 14% increase to $19.743 billion. Diluted earnings per share also grew by 17%, reaching $9.73. Visa's non-GAAP net income and diluted earnings per share rose by 12% and 15%, respectively, indicating a strong underlying financial health. The company's business development was marked by strategic acquisitions, including Featurespace Limited and Pismo Holdings, enhancing Visa's artificial intelligence capabilities and cloud-native processing platform. Visa's future plans include continued investment in growth and innovation, with expectations to maintain quarterly cash dividends...Show More

Visa Inc. (Visa) reported a robust financial performance for the fiscal year ended September 30, 2024, with a 10% increase in net revenue to $35.926 billion compared to $32.653 billion in the previous year. The company's operating expenses rose by 6% to $12.331 billion, while net income saw a 14% increase to $19.743 billion. Diluted earnings per share also grew by 17%, reaching $9.73. Visa's non-GAAP net income and diluted earnings per share rose by 12% and 15%, respectively, indicating a strong underlying financial health. The company's business development was marked by strategic acquisitions, including Featurespace Limited and Pismo Holdings, enhancing Visa's artificial intelligence capabilities and cloud-native processing platform. Visa's future plans include continued investment in growth and innovation, with expectations to maintain quarterly cash dividends and a robust share repurchase program, having repurchased $17 billion in class A common stock during the fiscal year. The company's liquidity position remains strong, with $12 billion in cash and cash equivalents and a healthy investment portfolio. Visa's effective income tax rate for the fiscal year was 17%, with the company closely monitoring the potential impact of global tax changes on future operations.