Visa (NYSE: V) announced its 2023 Q2 financial results on April 25, 2023. According to the announcement, net revenues were up 11% (YoY, 3 months). In addition, operating income and net income were up 11% and 17%, respectively (YoY, 3 months, GAAP).
Among revenues, international transaction revenues recorded the highest growth of up 24% (YoY, 3 months). On the other hand, services revenues showed the slowest of up 7%. It was followed by data processing revenues of up 10%.
Payment Volume was up 10%, recorded double-digit growth (YoY, 3 months). Cross-border Volume also showed prominent growth of up 24%.
Net cash provided by operating activities was up 4% (YoY, 6 months). However, free cash flow grew significantly, up 34%.
Despite the challenging economic environment, Visa showed superior business performance. It was reflected by its double-digit growth in all of net revenues, operating income and net income. In particular, the WHO announced that COVID-19 no longer constitutes a public health emergency of international concern. Under such circumstances, improvements in Visa’s international transaction revenues could be expected to be continued.
Accordingly, Watanabe & Brothers’ Investment will continuously invest in Visa from a medium- to long-term perspective.
Visa Inc. (NYSE: V) Stock Chart
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