Fiscal Second Quarter 2024 Financial Results

April 23, 2024

©2024 Visa. All rights reserved.

Fiscal Second Quarter 2024 Results

Net

Operating

Effective Income

Diluted Class A

YoY increase / (decrease) except for Effective Income Tax Rate

Common Stock

Revenue

Expenses

Tax Rate

Earnings Per Share

GAAP Nominal-Dollar Basis

10%

29%

15.4%

12%

Non-GAAPNominal-Dollar Basis(1)

10%

11%

16.0%

20%

Foreign Currency Impact(2)

~0.5%

(~0.5%)

N/A

~1.0%

Acquisition Impact(2)

~0%

(~0.5%)

N/A

~0.5%

Adjusted Constant-Dollar Basis(1)

10%

10%

16.0%

21%

  1. Refer to Non-GAAP Financial Measures within the appendix for further information.
  2. Foreign currency and acquisition impacts, if applicable, are rounded to the nearest half point.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

1

Fiscal Second Quarter 2024 Results and Other Highlights

  • Growth in payments volume, processed transactions and cross-border volume remained relatively stable
  • Share repurchases and dividends of $3.8B

Income Statement Summary

Q2 2024

In billions, except percentages and per share data. % change is calculated over the comparable prior-year period.

USD

% Change

Net Revenue

$8.8

10%

GAAP Net Income

$4.7

10%

GAAP Earnings Per Share

$2.29

12%

Non-GAAP Net Income(1)

$5.1

17%

Non-GAAP Earnings Per Share(1)

$2.51

20%

  1. Refer to Non-GAAP Financial Measures within the appendix for further information.

Key Business Drivers

YoY increase / (decrease), volume in constant dollars

Q2 2024

Payments Volume

8%

Cross-Border Volume Excluding Intra-Europe(2)

16%

Cross-Border Volume Total

16%

Processed Transactions

11%

  1. Cross-bordervolume excluding transactions within Europe.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

2

Operational Performance Metrics through April 21, 2024

2024 U.S. Payments Volume Growth

Total Credit Debit

10%

8%

6%

4%

2%

0%

Jan

Feb*

Mar

Apr

1 - 21

2024 Cross-Border Volume Growth

Total

Total (ex. Intra-EU)

25%

CP + CNP Travel (ex. Intra-EU)

CNP, Ex. Travel (ex. Intra-EU)

20%

15%

10%

Jan

Feb*

Mar

Apr

*February growth includes the benefit from Leap Year.

1 - 21

2024 Processed Transactions Growth

14%

12%

10%

8%

6%

4%

Jan

Feb*

Mar

Apr

1 - 21

2024 Cross-Border Volume Index vs. 5 Years Ago

Total

Total (ex. Intra-EU)

CP + CNP Travel (ex. Intra-EU)

CNP, Ex. Travel (ex. Intra-EU)

220

200

180

160

140

Jan

Feb*

Mar

Apr

1 - 21

Notes:

  1. All figures shown on a constant-dollar basis and growth rates are calculated over the comparable prior year period. Refer to Operational Performance Data Footnote for further information on these metrics.
  2. CP denotes Card Present and CNP denotes Card Not Present.

Fiscal Second Quarter 2024 Financial Results

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3

Payments Volume Growth: Visa

Q1 FY2024 Q2 FY2024

8%

10%

9%

9%

7%

5%

Nominal

Credit

Debit

Total

8%

8%

9%

9%

8%

8%

Constant

Credit

Debit

Total

Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

4

Payments Volume Growth: U.S. and International

Q1 FY2024

Q2 FY2024

U.S.

International

Visa

15%

12%

12%

9%

10%

9%

8%

9%

8%

7%

6%

6%

6%

6%

5%

5%

5%

5%

Nominal

Credit

Debit

Total

Credit

Debit

Total

Credit

Debit

Total

13%

12%

11%

12%

11%

9%

8%

8%

9%

9%

8%

8%

6%

6%

6%

6%

5%

5%

Constant

Credit

Debit

Total

Credit

Debit

Total

Credit

Debit

Total

Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

5

Transactions and Cross-Border Volume Results

Q2 FY2024

Transactions

Cross-Border

17%

10%

11%

11%

16%16%

Total

Payments

Processed

Total

Total

Constant

Transaction Count (in millions)

Nominal

Constant

(excluding (1)

Intra-Europe)

Credit

24,698

24,504

Debit

47,383

43,418

Total

72,081

67,922

55,456

  1. Cross-bordervolume excluding transactions within Europe.

Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

6

Total Cards (in billions)

Q1 FY2024

2023

2024

Credit

Debit

Visa

4%

7%

6%

2.9

1.21.3

4.4

4.2

3.1

Note: The chart results are calculated over the comparable prior-year period. Refer to Operational Performance Data Footnote for further information on these metrics.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

7

Operational Performance Data Footnote

Current quarter payments volume and other select metrics are provided in the operational performance data supplement to provide more recent operating data. Service revenue continues to be recognized based on payments volume in the prior quarter.

Total transactions represent payments and cash transactions as reported by Visa clients on their operating certificates. Processed transactions include payments and cash transactions, and represent transactions involving cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands processed on Visa's networks.

Reported volume, transaction and card information may be updated to reflect revised client submissions or other adjustments. Prior-period updates are not material. Figures may not recalculate exactly due to rounding. Percentage changes and totals are calculated based on unrounded numbers. Constant-dollar growth rates exclude the impact of foreign currency fluctuations against the U.S. dollar in measuring performance.

The data no longer includes volumes and transactions for Russia clients starting the three months ended June 30, 2022 and accounts and cards starting the three months ended March 31, 2022.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

8

Revenue Results

Q2 FY2024

37%

12%

12%

9%

10%

7%

Service

Data

International

Other

Client

Net

Revenue

Processing

Transaction Revenue

Revenue

Incentives

Revenue

Revenue

Reported Nominal USD (in millions)

$4,033

$4,259

$2,984

$756

($3,257)

$8,775

Note: The chart results are calculated over the comparable prior-year period. Percentage changes are calculated based on unrounded numbers.

Fiscal Second Quarter 2024 Financial Results

©2024 Visa. All rights reserved.

9

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Visa Inc. published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 20:44:41 UTC.