Visa Inc. (NYSE:V) shares are trading lower in Thursday’s after-hours session after the company reported its first-quarter financial results. Here’s an overview of the metrics which are moving the stock. What To Know: Visa reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $2.34 by 2.99%. Revenue clocked in at $8.60 billion, surpassing the analyst expectations of $8.54 billion, a 8.37% increase over sales of $7.94 billion the same period last year. Payments volume increased 8% while total cross-border volume rose 16%, on a year-over-year basis. Additionally, cash, cash equivalents and investment securities were $21.4 billion as of Dec. 31. Visa also stated that it sees second-quarter net revenue growth in the upper mid to high single-digit range while full-year net revenue growth is expected to be in the low double-digit range. “Our 2024 fiscal year is off to a solid start. In our first quarter, net […]

The following is a summary of the Visa Inc. (V) Q1 2024 Earnings Call Transcript: Financial Performance: Visa reported an 8% YoY growth in payment volume during Q1 with U.S. and international payments volume growing 5% and 11% respectively. The overall processed transactions and net revenues also reflected a 9% growth. Cross-border volume, excluding intra-Europe, rose 16% YoY in constant dollars. Visa noticed a 20% increase in GAAP EPS and reported non-GAAP EPS as being up by 11%. The company bought back approximately $3.4 billion in stock and distributed over $1 billion in dividends to stockholders during the first quarter. No material changes to prior outlook for drivers, adjusted net revenues or EPS growth with net revenue growth and non-GAAP operating expense growth expected to be in the low double digits, and adjusted EPS growth in the low teens. Business Progress: Visa expanded its credentials by 6% and network tokens