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Visa Inc. (V+1.59%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net revenue to $9,510 million from $8,634 million in the same quarter the previous year. This increase is attributed to growth in processed transactions, nominal cross-border volume, and nominal payments volume.
Operating expenses for the quarter were $3,276 million, up from $2,680 million in the same quarter of the previous year. The increase is primarily due to higher personnel and general and administrative expenses.
The company reported a net income of $5,119 million for the quarter, compared to $4,890 million in the previous year, with the increase attributed to growth in underlying business operations.
Cash provided by operating activities was $5,396 million, while cash used in investing and financing activities was $790 million and $5,475 million, respectively.
Visa had a total of $91,888 million in assets as of December 31, 2024, compared to $94,511 million as of September 30, 2024. The decrease is primarily due to changes in investment securities and settlement receivables.
The filing also details the acquisition of Featurespace Limited for $946 million, a developer of real-time artificial intelligence payments protection technology.
Visa's board of directors declared a quarterly cash dividend of $0.59 per share of class A common stock, payable on March 3, 2025, to all holders of record as of February 11, 2025.
The company repurchased 13 million shares of its class A common stock in the open market for $3.9 billion during the quarter.
Visa continues to manage various legal proceedings, including U.S. covered litigation and Europe merchant litigation, with updates provided in the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Visa Inc. quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.