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10/26, 10:10 PM (Source: TeleTrader)
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Visa: Q4 EPS up 70% YoY to $1.65

Visa Inc. revealed on Tuesday that its GAAP earnings per share hit $1.65 in the fourth quarter of fiscal 2021, skyrocketing 70% compared to the same period in 2020. In the three months ending with September 30, 2021, the company's net revenues rose to $6.6 billion, up 29% from a year ago, while net income soared 68% on an annual basis to $3.6 billion.

For the entire fiscal year 2021, net revenue was 10% higher, reaching $24.1 billion, while GAAP earnings per share rose by 15% to $5.63. Net income grew 13% from 2020 to $12.3 billion in 2021.

"Looking ahead, Visa is even better positioned for the future as cross-border travel recovers and we continue to drive the rapid growth of digital payments and enable innovation in money movement globally," Chairman and CEO Alfred F. Kelly Jr. commented.

The company's stock was up 0.77% in after-hours trading following the earnings update.

Baha Breaking the News (BBN) / MS