Exhibit 99.1
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Visa Inc. Reports Strong Fiscal Fourth Quarter and Full-Year 2016 Results
GAAP quarterly net income of $1.9 billion or $0.79 per share, including special items
GAAP full-year 2016 net income was $6.0 billion or $2.48 per share, including special items
Adjusted quarterly net income of $1.9 billion or $0.78 per share, excluding special items
Adjusted full-year 2016 net income of $6.9 billion or $2.84 per share, excluding special items

San Francisco, CA, October 24, 2016
- Visa Inc. (NYSE: V) today announced financial results for the Company’s fiscal fourth quarter and full-year 2016, ended September 30, 2016. GAAP net income in the fiscal fourth quarter, inclusive of special items, was $1.9 billion or $0.79 per share, an increase of 28% and 28%, respectively, over the prior year’s results. GAAP net income for the full-year 2016, inclusive of special items, was $6.0 billion or $2.48 per share, a decrease of 5% and 4%, respectively, over the prior year’s results. The full-year 2016 results include fiscal fourth quarter financial results from Visa Europe. All references to earnings per share assume fully-diluted class A share count, inclusive of series B and C convertible participating preferred stock, unless otherwise noted.
During the fiscal fourth quarter of 2016, the Company recorded the following special items:
A charge of $110 million (pretax) for severance costs; and
Non-cash and non-recurring $88 million gain due to the remeasurement of a deferred tax liability recorded upon the acquisition of Visa Europe to reflect a newly announced tax rate change in the United Kingdom.
Excluding these special items, adjusted net income in the fiscal fourth quarter was $1.9 billion or $0.78 per share, an increase of 27% and 27%, respectively, over the prior year’s results¹. Adjusted net income for the full-year 2016 was $6.9 billion or $2.84 per share, an increase of 7% and 8%, respectively, over the prior year’s adjusted results. The Company’s full-year 2016 adjusted financial results excluded special items related to the acquisition of Visa Europe incurred during the first three quarters and the above mentioned special items incurred in the fourth quarter.
Net operating revenue in the fiscal fourth quarter 2016 was $4.3 billion, an increase of 19%, 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%, 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.


1 The Company did not report adjusted results for the three months ended September 30, 2015.
1



The following information was filed by Visa Inc. (V) on Monday, October 24, 2016 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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