Credit card giant Visa (NYSE: V) has reported double-digit revenue and earnings growth for the fourth quarter of 2024, reflecting strong growth across all operating segments.
Adjusted earnings, excluding special items, climbed 16% annually to $2.71 per share in the September quarter from $2.33 per share in the prior-year period. Unadjusted net income rose to $5.31 billion or $2.65 per share in the fourth quarter from $4.68 billion or $2.27 per share a year earlier.
The bottom-line growth was driven by a 12% year-over-year increase in revenues to $9.6 billion. Payments volume and cross-border volume increased by 6% and 13% respectively during the three months.
“Visa had a robust fourth quarter to finish a very strong fiscal year. I am proud of what our team accomplished, delivering on our financial expectations and enabling our clients with innovative solutions,” said Visa’s chief executive officer Ryan McInerney.