Visa Inc. Q1 2022 Earnings Report

Visa Inc has reported its Q1 2022 results, showing double-digit growth across revenue and payments volume.
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Visa has announced its first earnings report of 2022 (Q1) and the company has seen double figure growth in its revenue and payments volume.

The company reported Net Revenues of $7.1 billion which is an increase of 24% compared to Q1 2021 in which the company reported Net Revenues of $5.7 billion. Visa also reported GAAP Net Income of $4.0 billion, which is an increase of 27% compared to Q1 2021. GAAP Earnings Per Share came in at $1.83, with a 29% increase compared to Q1 2021.

Additionally Non-GAAP Net Income was reported to be $3.9 billion, a 25% increase from Q1 2021 and Non-GAAP Earnings Per Share of $1.81 which is a 27% increase from Q1 2021.

Visa has also seen double-digit growth across the board in Key Business Drivers. The company reported a 20% increase in Payments Volume when compared to Q1 2021.

Other figures in this area include the following (percentage listed is the increase compared to Q1 2021):

  • Cross-Border Volume Excluding Intra-Europe: 51%.
  • Cross-Border Volume Total: 40%.
  • Processed Transactions: 21%.

Alfred F. Kelly, Jr, Chairman and CEO of Visa Inc has said:

“Visa delivered very strong results with revenue, net income and EPS all growing at 24% or higher. The strength of our network, the growth in eCommerce, better than expected progress in the return of cross-border travel and a continuation of the recovery all contributed to an excellent quarter.”

He also said:

“We remain confident that we are well-positioned, via our multi-pronged growth strategy, to deliver strong results well into the future.”

Visa has also returned $4.9 billion of capital to shareholders, by means of share repurchases and dividends. Visa’s board of directors have also authorized a new $12.0 billion share repurchase program.

Also, Visa was recently in the news regarding the issue of Amazon deciding to no longer accept UK issued Visa Credit cards:

Towards the end of 2021, Amazon took the decision to no longer accept UK issued Visa Credit cards, however, since announcing this decision Amazon will no longer go ahead with it. Initially Amazon told customers it would no longer accept Visa Credit cards from 19th of January 2022 due to “the high fees Visa charges for processing credit card transactions”. Just days before the deadline Amazon began emailing customers to inform them that the company will now continue to accept Visa Credit cards and it is understood that Amazon and Visa are working together to reach an agreement.

Following the Q1 2021 results, Visa Inc stock is up by around 5% in after-hours trading and is now priced at around $216.43.

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