Visa Inc., a global payments technology company, said that its payments volume growth, including Visa Europe and on a constant dollar basis, for the three months ended September, was 47 per cent over the prior year at $1.9 trillion.

Net income in the fiscal fourth quarter, inclusive of special items, was $1.9 billion or $0.79 per share, an increase of 28 per cent and 28 per cent, respectively, over the prior year’s results.

Net income for the full-year 2016, inclusive of special items, was $6.0 billion or $2.48 per share, a decrease of 5 per cent and 4 per cent, respectively, over the prior year’s results. The full-year 2016 results include fiscal fourth quarter financial results from Visa Europe.

Operating revenue in the fiscal fourth quarter 2016 was $4.3 billion, an increase of 19 per cent, driven by the inclusion of Europe and continued growth in payments volume and processed transactions.

Net operating revenue in the fiscal full-year 2016 was $15.1 billion, an increase of 9 per cent, driven by the inclusion of Europe and continued growth in payments volume and processed transactions. Exchange rate shifts versus the prior year negatively impacted reported net operating revenue growth by approximately 3 percentage points.

“We continue to deliver healthy earnings growth in the face of continued, but abating headwinds. We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results. At the same time, we are unwavering in our commitment to invest in client partnership opportunities and the further build out of our digital payments capabilities,” said Charlie Scharf, chief executive officer of Visa Inc.

“As we enter fiscal 2017, we are positioned well as revenue headwinds will continue to ease, we will continue to see the benefits from Visa Europe in our results, and our strong client franchise continues to grow,” added Scharf.

Cross-border volume growth, including Visa Europe and on a constant dollar basis, was 149 per cent for the three months ended September 30.

Total processed transactions, which represent transactions processed by Visa (including Visa Europe), for the three months ended September 30 were 25.9 billion, a 41 per cent increase over the prior year. – TradeArabia News Service