Exhibit 99.1

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Visa Inc. Posts Solid Fiscal Fourth Quarter and Full-Year 2009 Earnings Results and Authorizes a $1 Billion Share Repurchase Plan

 

 

 

 

Adjusted quarterly net income of $552 million or $0.74 per diluted class A common share

 

 

Adjusted full-year 2009 net income of $2.4 billion or $3.23 per diluted class A common share inclusive of the impact from the VisaNet do Brasil sale

 

 

GAAP quarterly net income of $514 million or $0.69 per diluted class A common share

 

 

Full-year 2009 GAAP net income of $2.4 billion or $3.10 per diluted class A common share

 

 

The Company increased its quarterly dividend payment amount by 19% and authorized a $1 billion share repurchase plan

SAN FRANCISCO, CA, October 27, 2009 – Visa Inc. (NYSE: V) today announced financial results for the Company’s fiscal fourth quarter and full-year 2009. For the fourth quarter ending September 30, 2009, on an adjusted basis (reflective of restructuring and purchase amortization), net income for the quarter was $552 million, or $0.74 per diluted class A common share. The weighted average number of diluted class A common shares was 747 million. The Company’s adjusted net income and adjusted diluted net income per class A common share are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measures in the accompanying financial tables.

GAAP net income for the quarter was $514 million, or $0.69 per diluted class A common share.

Net operating revenue in the fiscal fourth quarter of 2009 was $1.9 billion, an increase of 10% over the prior year’s net operating revenue of $1.7 billion and driven primarily by strong contributions from data processing revenues as processed transactions grew 9%. Though slightly negative in the U.S. and Canada, payments volume continued to grow on a constant dollar basis in all other regions globally.

“Visa delivered another quarter and year of solid financial results during this challenging economic environment,” said Joseph W. Saunders, Chairman and Chief Executive Officer. “Our strong returns are a reflection of consumers’ continuing shift to electronic payments, the success of efficiency initiatives and importantly, continued support from our financial institution partners.”

“As we enter our new fiscal year, we are beginning to see some very early signs of stabilization in our business,” continued Saunders. “And, while we cannot predict the ultimate speed or size of any economic recovery, we are confident that Visa is well positioned for future growth based on the investments we continue to make in our processing infrastructure, products and brand.”


The following information was filed by Visa Inc. (V) on Tuesday, October 27, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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