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• | GAAP net income of $2.1 billion or $0.90 per share |
• | Net operating revenues of $4.9 billion, an increase of 14%, driven by continued growth in payments volume, cross-border volume and processed transactions |
• | Payments volume growth, on a constant dollar basis and excluding Europe co-badge volume, was 10% over the prior year |
• | Cross-border volume growth, on a constant dollar basis, was 10% over the prior year |
• | Total Visa processed transactions increased 13% over the prior year |
• | Returned approximately $2.1 billion of capital to shareholders in the form of share repurchases and dividends |
• | GAAP 2017 net income of $6.7 billion or $2.80 per share and adjusted full-year net income of $8.3 billion or $3.48 per share |
• | 2017 net operating revenues of $18.4 billion, an increase of 22%, driven by inclusion of Visa Europe and continued growth in payments volume, cross-border volume and processed transactions |
• | Payments volume growth, on a constant dollar basis and excluding Europe co-badge volume, was 30% over the prior year, or 11% inclusive of Visa Europe in prior year's results |
• | Cross-border volume growth, on a constant dollar basis, was 80% or 11% inclusive of Visa Europe in prior year's results |
• | Total Visa processed transactions increased 34% over the prior year, or 13% inclusive of Visa Europe in prior year's results |
• | Returned approximately $8.5 billion of capital to shareholders in the form of share repurchases and dividends |
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The decrease over the prior year was primarily due to the $1.9 billion loss in fiscal 2016 resulting from the effective settlement of the Framework Agreement between us and Visa Europe upon consummation of the transaction, offset by the inclusion of Visa Europes operating expenses following the acquisition.
Total operating expenses decreased primarily due to the $1.9 billion loss related to the effective settlement of the Framework Agreement between Visa and Visa Europe recorded during fiscal 2016.
Our nominal payments volume, total payments volume growth and total volume growth for the 12 months ended June 30, 2016 does not reflect the related nominal payments volume of $477 billion and cash volume of $177 billion for Visa Europe for the three months ended June 30, 2016, which impacts our service revenues for the fourth quarter of fiscal 2016.
However, actual results could differ from our assumptions and estimates, and such differences could be material.
The growth in data processing revenues was slower than the growth in processed transactions, reflecting the inclusion of data processing revenues earned by Visa Europe and the resulting impact on our data processing revenue yield.
However, if current market conditions...Read more
Net of the related cash...Read more
a non-cash adjustment of $255...Read more
As such, we have presented...Read more
International transaction revenues increased in...Read more
Net of related tax expense...Read more
Net of related tax expense...Read more
Service revenues also include assessments...Read more
The following tables reconcile our...Read more
General and administrative expenses increased...Read more
Nominal payments volume over the...Read more
Client incentives consist of long-term...Read more
These payment amounts are our...Read more
The effective rate in fiscal...Read more
Increase in cash and cash...Read more
Most U.S. dollar settlements are...Read more
The growth in service revenues...Read more
Pursuant to the terms of...Read more
The amount of client incentives...Read more
We recorded net operating revenues...Read more
See Overview Adjusted financial results...Read more
The increase in operating revenues...Read more
Nominal international payments volume growth...Read more
Effective income tax rate changes...Read more
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Adjusted operating expenses, operating margin,...Read more
Due to the inherent uncertainties...Read more
Upon consummation of the transaction,...Read more
Service revenues increased in fiscal...Read more
The remaining components of total...Read more
Adjusted effective income tax rate....Read more
Network and processing expenses increased...Read more
For a full reconciliation of...Read more
Included in the $296 million...Read more
The cash inflows and outflows...Read more
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As a result of the...Read more
Visa Europe Framework Agreement loss...Read more
Also included in this amount...Read more
The effective tax rate in...Read more
Cash provided by investing activities...Read more
The following table sets forth...Read more
Personnel expenses increased in fiscal...Read more
As such, we believe the...Read more
Data processing revenues increased in...Read more
Depreciation and amortization expenses increased...Read more
Client incentives increased in fiscal...Read more
The following table presents nominal...Read more
$1.9 billion of the consideration...Read more
Represents agreements to purchase goods...Read more
Service revenues consist mainly of...Read more
During fiscal 2016, we entered...Read more
As a result, in the...Read more
Interest expense increased during fiscal...Read more
These agreements, which range in...Read more
Data processing revenues are earned...Read more
Our operating revenues, primarily service...Read more
See Note 3 U.S. and...Read more
We have liabilities for uncertain...Read more
the effect of one-time items...Read more
If actual performance or recoverable...Read more
We expect to continue investing...Read more
Foreign exchange gain on euro...Read more
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Litigation provision is an estimate...Read more
Financial Statements, Disclosures and Schedules
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Visa Inc. provided additional information to their SEC Filing as exhibits
Ticker: V
CIK: 1403161
Form Type: 10-K Annual Report
Accession Number: 0001403161-17-000044
Submitted to the SEC: Thu Nov 16 2017 8:07:25 PM EST
Accepted by the SEC: Fri Nov 17 2017
Period: Saturday, September 30, 2017
Industry: Business Services