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Visa $V Q1 2023 Results: Payment Gateway Continues
Pandemic Recovery
Q1 2023 Results for Visa $V were released January 26, 2023
Albert Kelly, outgoing CEO, replaced by Ryan McInerney on Feb 1, 2023.
“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. We had 8% growth in GAAP EPS, 21% growth in non-GAAP EPS and returned $4 billion to shareholders. I continue to see a bright future for Visa and believe that we have the right strategy to invest in and capitalize on the opportunities ahead across consumer payments, new flows and value added services.”
Source: App Economy Insights
All charts and graphs courtesy of $V, unless otherwise noted
What we need to know:
- $V grew revenues of $7.9B of 12%, with earnings of $1.99 up 8% YoY.
- Payments volume grew 7% YoY, and processed transactions grew 10%.
- The uber important cross-border volume totals grew 22% YoY, with cross-border volume, ex Europe up 31%.
Additional stuff to know:
- Total processed transactions on the Visa network equaled 52.5 billion in Q1, a 10% YoY.
- Operating expenses grew 25% in the quarter, driven by increases in personnel and litigation provisions.
- $V returned $4B in capital via share repurchases and dividends.
Payments Volumes 2022-2023
Cross Border Recovery 2022-2023
Payment volumes credit vs debit
recover from the pandemic.
h/t @kostofff for the great format idea!!
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