Visa Q1 2016 GAAP net income $1.9 billionStaff writer ▼ | January 29, 2016
Visa announced financial results for the fiscal first quarter 2016. GAAP net income was $1.9 billion, or $0.80 per share.
Visa Net operating revenue was $3.6 billion
Excluding the $255 million non-cash, non-operating income recorded upon remeasurement of the Visa Europe put option, adjusted net income for the quarter was $1.7 billion, an increase of 7% over the prior year, or $0.69 per share, an increase of 10% over the prior year.
The change in the fair value of the Visa Europe put option was triggered by the amendment of the put option in connection with the Visa Europe Transaction Agreement.
Net operating revenue was $3.6 billion, an increase of 5% nominally or 8% on a constant dollar basis over the prior year, driven by growth in service revenues, data processing revenues and international transaction revenues.
Currency rate shifts versus the prior year negatively impacted reported net operating revenue growth by approximately 3 percentage points. ■