Visa reported net income of $1.4bn, or $2.17 per share for fiscal third quarter, a rise of 11% over the prior year, aided by what the company called ‘strong’ global payments volume and processed transactions.
For the quarter ended 30 June 2014, net operating revenue was $3.2bn, an increase of 5% nominally or 7% on a constant dollar basis over the prior year.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Payments volume growth, on a constant dollar basis, was 11% over the prior year at $1.2tn, the company said in a statement, while cross-border volume growth, on a constant dollar basis, was 7%.
The company processed 16.7 billion transactions during the period, an 11% increase compared to a year earlier.
For the fiscal-year 2014, Visa expects revenue growth of 9%-10% and earnings per share growth of 17.5%-18.5%.
Commenting on the results, Visa CEO Charlie Scharf said: "We are pleased to report 15% earnings per share growth in the face of a continued, subdued global economy. As expected, revenue growth was affected by a strong U.S. dollar and tepid growth from cross-border transactions."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"More importantly, global payments volume and processed transactions remained healthy and strong. While some of the headwinds will likely continue in the short-term, we are confident our investments in products such as Visa Checkout, new technologies like tokenization, and new relationships with financial institutions and merchants will continue to drive double-digit revenue growth over the long-term," Scharf added.
