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The company reported net income of $3.94 billion, or $1.86 a share, compared with $3.58 billion, or $1.65 a share, in the year-earlier period. After adjustments, Visa earned $1.93 a share, up 19% from a year prior, while analysts tracked by FactSet were looking for $1.87 a share.
Payments volume at Visa V, 2.39% grew 10% in the fiscal fourth quarter, while processed transactions increased 12%. Visa’s revenue rose to $7.79 billion from $6.56 billion and came in ahead of the FactSet consensus, which was for $7.55 billion.
Prabhu noted on the earnings call that Visa was” moderating expense growth” as it starts its new fiscal year, “so expense growth is clearly coming down from the levels you’ve seen.”
The company noted in its release that during October, its board of directors approved a new $12 billion stock-buyback program as well as an increase to the dividend. The quarterly cash dividend will be 45 cents a share, up from 38 cents prior, payable on Dec. 1 to shareholders of record as of Nov. 11.
https://www.marketwatch.com/story/visa-beats-on-earnings-increases-dividend-by-20-11666729605
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