Summary by Moomoo AI
Visa reported strong financial results for Q1 fiscal 2024, with net revenue increasing 10% year-over-year to $9.51 billion, driven by 11% growth in processed transactions and 15% growth in cross-border volume. Net income rose 5% to $5.12 billion, while diluted earnings per share grew 8% to $2.58.The company saw robust growth across key metrics, with total payments volume up 6% to $3.41 trillion and processed transactions reaching 63.8 billion. Service revenue increased 8% to $4.21 billion, while data processing revenue grew 9% to $4.75 billion. International transaction revenue rose 14% to $3.44 billion, partially offset by a 13% increase in client incentives.In December 2024, Visa acquired Featurespace Limited for $946 million to enhance its fraud prevention capabilities. The company maintained strong capital return to shareholders, repurchasing 13 million shares for $3.9 billion and declaring a quarterly dividend of $0.59 per share. As of December 31, 2024, $9.1 billion remained available for share repurchases under the authorized program.
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