1/26, 10:06 PM (Source: TeleTrader)
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Chart for: Visa Inc

Visa posts revenue of $7.9 billion in Q1

Visa said on Thursday its revenue in the first quarter of fiscal 2023 amounted to $7.9 billion, rising 12% compared to the same period a year earlier and topping estimates.

GAAP net income climbed 6% year on year to reach $4.2 billion and GAAP earnings per share jumped 8% to $1.99. Adjusted net income soared 17% to $4.6 billion, or $2.18 per share.

"In our fiscal first quarter of 2023, Visa grew net revenues 12% year over year as we saw stable payments volume and processed transaction growth and a continued cross-border travel recovery," CEO Alfred Kelly stated.

Visa's shares were up 1.69% in after-hours trading after the company topped estimates on the top and bottom lines.

Baha Breaking News (BBN) / NP