TELETRADER News
1/26, 10:06 PM
(Source: TeleTrader)
Visa+0.03%
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.