Summary by Moomoo AI
On April 23, 2024, Visa Inc. reported its financial results for the fiscal second quarter ended March 31, 2024. The company announced a GAAP net income of $4.7 billion, or $2.29 per share, and a non-GAAP net income of $5.1 billion, or $2.51 per share. Net revenue reached $8.8 billion, marking a 10% increase on both a nominal and constant-dollar basis. Visa's growth was attributed to stable payments volume, processed transactions, and cross-border volume. The company also declared a quarterly cash dividend of $0.520 per share, payable on June 3, 2024, to shareholders of record as of May 17, 2024. Additionally, Visa's board of directors authorized share repurchases and dividends totaling $3.8 billion. Visa's CEO, Ryan McInerney, expressed confidence in the company's performance and its focus on expanding consumer...Show More