Daily Management Review

Visa's net profit rises by 17% in 2018-19 fiscal year


Net profit of Visa Inc., one of the two largest bank card service companies in the world, rose by 17% year-on-year to $ 12.08 billion in fiscal year 2018-2019, ending September 30, the company said.

In terms of amounts per ordinary share, the company's diluted earnings were $ 5.32, compared to $ 4.42 in the previous financial year. Revenue rose 11% year on year to $ 22.977 billion.

According to the results of the fourth quarter, Visa's net profit grew in annual terms by 6%, to 3.025 billion dollars. Diluted earnings per share for the three months amounted to $1.34 compared to $1.23 in the same period of the last financial year. Adjusted earnings per share were $ 1.47, with a forecast of $ 1.43. Revenues for the three reporting months rose by 13%, to $6.137 billion.

The company explains the increase in revenue by an increase in the volume of payments, which amounted to 9%, and the number of transactions (an increase of 11%). By the end of the year, the company expects revenue growth of at least 10% compared to last year.

Visa is a global payment system that provides access to a network of electronic payments to cardholders, merchants, financial and government institutions.

source: bloomberg.com