Total processed transactions, which represent transactions processed by Visa, for the three months ended June 30, 2022, were 49.3 billion, a 16% increase over the prior year.
GAAP net income in the fiscal third quarter was $3.4 billion or $1.60 per share, an increase of 32% and 36%, respectively, over prior year’s results, according to Visa Inc. Fiscal Third Quarter 2022 Results.
Net revenues in the fiscal third quarter were $7.3 billion, an increase of 19%, driven by the year-over-year growth in payments volume, cross-border volume and processed transactions. Net revenues increased over 21% on a constant dollar basis. Excluding Russia-related results from all periods, net revenues increased 26% on a constant-dollar basis.
Payments volume for the three months ended March 31, 2022, on which fiscal third quarter service revenues are recognized, increased 17% over the prior year on a constant-dollar basis. Payments volume for the three months ended June 30, 2022, increased 12% over the prior year on a constant-dollar basis.
Cross-border volume excluding transactions within Europe, which drive our international transaction revenues, increased 48% on a constant-dollar basis for the three months ended June 30, 2022. Total cross-border volume on a constant-dollar basis increased 40% in the quarter.
Fiscal third quarter service revenues were $3.2 billion, an increase of 13% over the prior year, and are recognized based on payments volume in the prior quarter. All other revenue categories are recognized based on current quarter activity. Data processing revenues rose 8% over the prior year to $3.6 billion. International transaction revenues grew 51% over the prior year to $2.6 billion.
Alfred F. Kelly, Jr., Chairman and Chief Executive Officer, Visa Inc., commented on the results:
„Against the backdrop of macroeconomic uncertainty, significant exchange rate headwinds and the suspension of our business in Russia, Visa had a very strong quarter, with net revenues up 19%, GAAP EPS up 36% and non-GAAP EPS up 33%. Sustained levels of growth in overall payments volume, cross-border volume and processed transactions demonstrated the resiliency of our business model. Consumers are back on the road, visiting various corners of the world, resulting in cross-border travel volume surpassing 2019 levels for the first time since the pandemic began in early 2020. While the economic outlook is unclear, we remain confident in our ability to execute with discipline and expand Visa’s role at the center of money movement.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
