VISA (NYSE:V) is a San Fransisco-based payment technology company that operates in the United States and globally. Of course, VISA is most well-known for tis credit card offerings. Shares of VISA were up solidly in after-hours trading following the release of its fiscal fourth quarter (Q4) and full-year 2024 earnings.
Investors got to see VISA’s most recent quarterly report after the market closed on Tuesday, October 29, 2024. In Q4 FY2024, VISA reported net revenue of $9.6 billion – up 12% compared to the fourth quarter of fiscal 2023. Meanwhile, GAAP net income and GAAP net earnings per share (EPS) were reported at $5.3 billion and $2.65 per share, respectively. That represents a14% jump in GAAP net income and 17% GAAP EPS growth.
For the full-year fiscal 2024, the company delivered net revenues of $35.9 billion. That was up 10% compared to revenues in the previous year. Moreover, GAAP net income rose 14% to $19.7 billion and GAAP earnings per share (EPS) climbed 17% to $9.73. Overall, VISA managed to beat analyst expectations with a strong quarter.
The key business drivers for VISA during the quarter, and for the full year, remained in cross-border volume excluding intra-Europe and the cross-border volume total. Meanwhile, processed transactions and payments volume delivered more measured growth year over year.
Shares of VISA currently possess a price-to-earnings ratio of 34. That still puts the stock in solid value territory at the time of this writing. VISA also offers a quarterly dividend of $0.52 per share, representing a modest 0.71% yield.
