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July 28, 2011

Visa Inc announces Q3 2011 results

Payments volume on Visa Inc products increased 13% in Q3 2011 to $941bn with cross-border payments growing 14% in the same period.

By Verdict Staff

Payments volume on Visa Inc products increased 13% in Q3 2011 to $941bn with cross-border payments growing 14% in the same period.

Total VisaNet-processed transactions for the quarter were 13bn – an increase of 11%.

Data processing revenues rose 12% from Q3 2010 to $886m and international transaction revenues – driven by cross-border payments volume – grew 15% to $662m when compared to the year previous.

Such double digit growth drove the scheme’s net operating revenue for Q3 2011 was $2.3bn, an increase of 14% over the previous year. Currency fluctuations are said to have contributed two percentage points of growth towards net operating revenues.

Q3 2011’s adjusted net income stands at $883m, up 23% from Q3 2010.

“Visa delivered another quarter of strong financial and operational performance as we benefited from growth in global payments volume and solid cross border and processed transaction growth,” said Joseph Saunders, chairman and CEO of Visa Inc.

“As we address the new regulatory landscape, we are prepared to deliver on our financial goals and remain an industry leading growth company in the global transactions space.”

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