Visa (NYSE: V) announced its 2023 Q1 financial results on January 26, 2023. According to the announcement, net revenues, operating income and net income were up 12%, 7% and 6%, respectively (GAAP, YoY, 3 months).
In addition, payment volume was up 7% (constant dollar basis, YoY, 3 months). Moreover, cross border volume excluding intra-Europe was up 31%. On the other hand, cross border volume was up 22%.
Looking at revenue growth by segments, international transaction revenues recorded the highest growth. The growth rate of the international transaction revenues was +29% (YoY, 3 months).
Net cash provided by operating activities recorded cash inflow of 4,171 million USD (-1%, YoY, 3 months). Moreover, free cash flow recorded cash inflow of 3,661 million USD (-1%, YoY, 3 months).

Visa’s business performance became sluggish due to a decrease in the amount of cross-border volume just after the onset of COVID-19 pandemic. Afterward, it has rebounded significantly since 2021 Q3. Now, the revenue growth rate in 2023 Q1 is lower than that in Q4 2022. It suggests that the rebound in the post-COVID-19 demands may be abating.
Finally, Visa repurchased class A common stocks for 3.1 billion USD in the three months of 2023 Q1. The Company had $14.0 billion of remaining authorized funds for share repurchase as of December 31, 2022.
Visa Inc. (NYSE: V) Stock Chart
Important Notice
- Watanabe & Brothers’ Investment is holding shares of Visa.
- This report is provided solely for informational purpose and not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell any specific products.
- Any opinions or statements expressed in this report are based on the author’s personal and subjective views, and are not the official views of the organization to which the author belongs. In addition, although we have done our best efforts in making accurate assessments on the original financial statements, we cannot guarantee any complete accuracy of this report. We do not guarantee either that any future forecasts referred to in this report will certainly be realized. Investment in listed stocks, ETFs, etc. should be carried out under the responsibility of each investor, and even if the investor who read this report suffers a loss due to investment activities, Watanabe & Brothers’ Investment is not responsible for any liability.
- This report was originally prepared in English, and translated into the other languages with plugin utilizing Google Translation API. We hereby notify that the translations are provided only for the sake of reference, and any opinions or statements in this report should be interpreted in original English. We ask any investors reading this report to refer to the original financial statements issued by the company.