• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 13, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Visa reported its first quarter results

by Ayush Bansal
January 28, 2022
in Business, Markets, News
Reading Time: 2 mins read
0
Visa Backs Credit-card-as-a-service company

Dark grey black slate texture with high resolution, background of natural black stone wall.

TwitterWhatsappLinkedin
Amazon to ban Visa credit cards in the UK in battle over payment fees - The  Verge
Image: The Verge

Visa Inc (V.N) beat Wall Street’s quarterly estimates on Thursday as more international travel and e-commerce drove increased spending volumes.

You might also like

Adobe Premiere Pro Likely Used to Modify Trump Admin’s Epstein Prison Video, Report Claims

OpenAI Faces IRS Scrutiny Over Sam Altman’s Alleged Tax Law Violations and Potential Billions

Foxconn Initiates iPhone 17 Trial Production in India Amidst Shifting Global Supply Chains

Chief Executive Al Kelly saw several drivers for Visa’s results, including continued growth in e-commerce and a faster-than-expected return of cross-border travel spending.

“As we look ahead, we do not believe the current surge in the pandemic will curtail the recovery,” he said in Visa’s earnings release. “We see economies around the world continuing to improve and, as restrictions are lifted, cross-border travel will continue to recover.”

Visa sees strong pent-up demand for travel that could help results as more countries ease pandemic-related restrictions. “You’re seeing that every time a border opens, there’s an extraordinary amount of travel,” Chief Financial Officer Vasant Prabhu

Financial Highlights

Net revenues in the fiscal first quarter were $7.1 billion, an increase of 24%, driven by the year-over-year growth in payments volume, cross-border volume, and processed transactions. Net revenues increased approximately 25% on a constant-dollar basis.

Payments volume for the three months ended September 30, 2021, on which fiscal first-quarter service revenue is recognized, increased 17% over the prior year on a constant-dollar basis.

Payments volume for the three months ended December 31, 2021. It was increased 20% over the prior year on a constant dollar basis.

Cross-border volume excluding transactions within Europe, which drive our international transaction revenues, increased 51% on a constant-dollar basis for the three months ended December 31, 2021.

Total cross-border volume on a constant dollar basis increased 40% in the quarter.

Total processed transactions, which represent transactions processed by Visa, for the three months ended December 31, 2021, were 47.6 billion, a 21% increase over the prior year.

Fiscal first-quarter service revenues were $3.2 billion, an increase of 19% over the prior year. They 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 19% over the prior year to $3.6 billion. International transaction revenues grew 50% over the prior year to $2.2 billion.

Other revenues of $449 million rose 17% over the prior year. Client incentives, a contra revenue item, were $2.4 billion and represented 25.1% of gross revenues.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments. It facilitates transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year.

Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Stock Movement

Visa is the third big payments company to report results this week, after earnings from American Express Co. AXP, +0.88%, and Mastercard Inc. MA, +5.51% were met with positive stock reactions.

Shares of Visa have lost 4.5% over the past three months as the Dow Jones Industrial Average DJIA, +0.36% has declined 3.8%.

Tags: MarketNewssharevisa
Tweet54SendShare15
Previous Post

BharatPe unites for Ashneer Grover’s issue for internal governance processes across the business – CEO Suhail Sameer

Next Post

Top SoftBank Exec Quits After Reported Clash Over Compensation

Ayush Bansal

Recommended For You

Adobe Premiere Pro Likely Used to Modify Trump Admin’s Epstein Prison Video, Report Claims

by Sneha Singh
July 13, 2025
0
Adobe Premiere Pro Likely Used to Modify Trump Admin's Epstein Prison Video, Report Claims

The Department of Justice published what it referred to as "raw" surveillance video of Jeffrey Epstein's cell on the evening he passed away, but fresh analysis indicates the...

Read more

OpenAI Faces IRS Scrutiny Over Sam Altman’s Alleged Tax Law Violations and Potential Billions

by Sneha Singh
July 13, 2025
0
OpenAI Faces IRS Scrutiny Over Sam Altman's Alleged Tax Law Violations and Potential Billions

A technology watchdog group complained to the Internal Revenue Service against OpenAI, raising serious doubts about CEO Sam Altman's potential financial benefit from the proposed restructuring of the...

Read more

Foxconn Initiates iPhone 17 Trial Production in India Amidst Shifting Global Supply Chains

by Anochie Esther
July 13, 2025
0
iPhone 17

In a significant move signaling Apple's accelerating diversification of its supply chain, Foxconn Technology Group, a primary iPhone assembler, has commenced importing crucial components for the upcoming iPhone...

Read more
Next Post
Top SoftBank Exec Quits After Reported Clash Over Compensation

Top SoftBank Exec Quits After Reported Clash Over Compensation

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?