Summary by Moomoo AI
On January 25, 2024, Visa Inc. reported its financial results for the fiscal first quarter ended December 31, 2023. The company announced a GAAP net income of $4.9 billion, or $2.39 per share, and a non-GAAP net income of $4.9 billion, or $2.41 per share. Net revenues were $8.6 billion, marking a 9% increase on both a nominal and constant-dollar basis. Visa's payments volume, processed transactions, and cross-border volume showed stable growth, with cross-border volume growth remaining particularly strong. The company also declared a quarterly cash dividend of $0.520 per share, payable on March 1, 2024, to shareholders of record as of February 9, 2024. Additionally, Visa completed the acquisition of Pismo, a cloud-native banking platform, and announced a definitive agreement to acquire a majority interest in Prosa, a leading payments processor in Mexico. The board of directors approved amendments to Visa's certificate of incorporation, facilitating the class B exchange offer program. Visa repurchased 14.0 million shares of class A common stock and had $26.4 billion remaining for share repurchases as of December 31, 2023.