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Visa Q4 GAAP net income $1.1 billion

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Staff writer ▼ | October 30, 2014
Visa Inc. announced financial results for the fiscal fourth quarter and full-year 2014. GAAP net income was $1.1 billion or $1.72 per share, a decrease of 10% and 7% over the prior year, respectively.
Visa
Decrease   $1.72 per share
GAAP net income for the full-year 2014 was $5.4 billion or $8.62 per share, an increase of 9% and 14% over the prior year, respectively. All references to earnings per share assume fully-diluted class A share count unless otherwise noted.

On an adjusted basis, the Company’s financial results excluded the impact of a special item related to amounts covered by the retrospective responsibility plan of $450 million and related tax benefit during the fiscal fourth quarter.

On an adjusted basis, net income in the fiscal fourth quarter was $1.4 billion or $2.18 per share, an increase of 14% and 17% over the prior year, respectively. On an adjusted basis, net income for the full-year 2014 was $5.7 billion or $9.07 per share, an increase of 15% and 19% over the prior year, respectively.

GAAP net operating revenue in the fiscal fourth quarter of 2014 was $3.2 billion, an increase of 9% nominally or 10% on a constant dollar basis over the prior year. The strengthening of the U.S. dollar versus the prior year quarter negatively impacted net operating revenue growth by about 1.5 percentage points.

GAAP net operating revenue for the full-year 2014 was $12.7 billion, an increase of 8% nominally or 10% on a constant dollar basis over the prior year, driven by solid revenue growth contributions from service and data processing revenues. The strengthening of the U.S. dollar versus the prior year negatively impacted net operating revenue growth by about 2 percentage points.


 

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