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10/28, 9:09 PM (Source: TeleTrader)
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Visa's revenue down 17% to $5.1B in Q4, beats estimates

Visa Inc posted revenues of $5.1 billion in its fourth quarter of 2020, declining 17% compared to the same quarter in 2019, the company announced on Wednesday. GAAP Net income was down 29% year on year and came in at $2.1 billion in the quarter ended September 30. Meanwhile, Visa's earnings per share declined by 28% year on year to $0.97.

Meanwhile, full fiscal 2020 revenues fell 5% from the same quarter last year to $21.8 billion. Net income in the same period declined by 10% to $10.9 billion. Full-year 2020 EPS was down 9% from 2019 to $11.2.

"While our business drivers and financial results were impacted by COVID-19 in 2020, we’ve made significant progress in advancing our growth strategy. Visa drove the adoption of eCommerce and tap to pay to accelerate cash digitization, successfully unlocked new flows by expanding Visa Direct and B2B partnerships, and facilitated client innovation through our value-added services. As the world turns increasingly to digital payments, we see tremendous opportunity for growth," CEO Alfred Kelly Jr. said.

Visa shares were 0.74% in the green in after-hours trading following the release.

Breaking the News / VP