The company said net revenue for fiscal 2024 rose 10% from the prior year. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the factors, and said higher client incentives partially offset the increase.

10-KAnnual reportFiled Nov 13, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net revenue for fiscal 2024 rose 10% from the prior year. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the factors, and said higher client incentives partially offset the increase.
Visa said GAAP operating expenses rose 6% from the prior year in fiscal 2024, and non-GAAP operating expenses rose 11%. The company cited a decrease in litigation provision as a factor that partially offset the increase in GAAP operating expenses.
In fiscal 2024, the company repurchased 64 million shares of class A common stock in the open market for $17.0 billion, and said remaining authorized funds under its repurchase program were $13.1 billion as of September 30, 2024. The company also said it declared and paid dividends of $4.2 billion to holders of common and preferred stock over the same period.
The company said it recorded additional accruals of $140 million in fiscal 2024 to address claims related to the interchange multidistrict litigation, and deposited $1.5 billion into the U.S. litigation escrow account. As of September 30, 2024, the account balance was $3.1 billion, and it is reflected as restricted cash on the consolidated balance sheet.

Key figures

Fiscal year ended September 30, 2024

Revenue: $35.9B
Operating income: $23.6B
Net income: $19.7B
Operating cash flow: $19.9B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net revenue up 10%

The company said net revenue for fiscal 2024 rose 10% from the prior year. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the factors, and said higher client incentives partially offset the increase.

Source · Based on the MD&A text of the filing

GAAP and non-GAAP operating expense growth

Visa said GAAP operating expenses rose 6% from the prior year in fiscal 2024, and non-GAAP operating expenses rose 11%. The company cited a decrease in litigation provision as a factor that partially offset the increase in GAAP operating expenses.

Source · Based on the MD&A text of the filing

Share repurchases and dividends

In fiscal 2024, the company repurchased 64 million shares of class A common stock in the open market for $17.0 billion, and said remaining authorized funds under its repurchase program were $13.1 billion as of September 30, 2024. The company also said it declared and paid dividends of $4.2 billion to holders of common and preferred stock over the same period.

Source · Based on the MD&A text of the filing

Interchange litigation provisions and escrow deposits

The company said it recorded additional accruals of $140 million in fiscal 2024 to address claims related to the interchange multidistrict litigation, and deposited $1.5 billion into the U.S. litigation escrow account. As of September 30, 2024, the account balance was $3.1 billion, and it is reflected as restricted cash on the consolidated balance sheet.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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