Visa Inc. V shares are trading higher in Tuesday’s after-hours session after the company reported better-than-expected fourth-quarter financial results. Here’s what happened.
What To Know: Visa reported quarterly earnings of $2.33 per share, which beat the analyst consensus estimate of $2.24, a 20.73% increase over earnings of $1.93 per share from the same period last year.
The company reported quarterly sales of $8.61 billion, which beat the analyst consensus estimate of $8.55 billion, a 10.56% increase over sales of $7.79 billion in the same period last year.
Payments volume for the fourth quarter rose 9% year-over-year. Number of processed transactions grew 10%.
Visa raised the quarterly cash dividend by 16% to $0.520 per share and authorized a new $25 billion multi-year share repurchase program.
Visa sees full-year 2024 non-GAAP net revenue growth on adjusted constant-dollar basis in low double-digits.
“As we enter a new fiscal year, I am confident in our ability to deliver against a backdrop of geopolitical and economic uncertainty. There is tremendous opportunity ahead and I am as optimistic as ever about Visa’s role in the future of payments,” said CEO Ryan McInerney.
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V Price Action: Shares of V were up 1.25% at $237.75 in the after-hours session at the time of publication, according to Benzinga Pro.
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