Savera O’Hare
Visa Inc. reported earnings for the first quarter of fiscal year 2023 on Thursday. Here’s what you should know:
–Revenue: Revenue for the three months ended December 31, 2022 increased to $7.94 billion, up from $7.06 billion a year ago. Revenue was expected to rise to $7.7 billion, according to FactSet.
— Adjusted earnings per share: Excluding one-time items, the digital payments company had earnings per share of $2.18, according to FactSet. An analyst surveyed by FactSet had forecast adjusted earnings per share for him of $2.01.
What we saw:
– Payments, Cross-Border Volume: Visa’s Q1 payments volume increased 7% in the first quarter, while cross-border volume increased 22% over the period.
Transactions Processed: The total number of transactions processed by Visa in the quarter increased 10% to 52.5 billion. In the fourth quarter of fiscal 2022, it was 49.3 billion.
-Total Operating Expenses: Visa’s total operating expenses increased 25% to $2.85 billion, the company said.
-Guidance: “I continue to see a bright future for Visa and believe it has the right strategies in place to invest in and capitalize on the opportunities ahead across consumer payments, new flows and value-added services.” ‘ said Chairman and Chief Executive Officer Alfred F. Kelly.
Write to Sabela Ojea at Sabela.ojea@wsj.com. @sabelaojeaguix
