Visa Inc. · NYSE:V
Visa — Q1 2019 Earnings Presentation
15 slides from Visa's earnings presentation, Jan 30, 2019
Slide 1: Visa Inc. Fiscal First Quarter 2019 Financial Results
Visa Inc. Fiscal First Quarter 2019 Financial Results January 30, 2019
Slide 2: Forward-Looking Statements
Fiscal First Quarter 2019 Financial Results2 ©2019 Visa. All rights reserved. This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among other things, our future operations, prospects, developments, stra
Slide 3: Fiscal First Quarter 2019 Results
Fiscal First Quarter 2019 Financial Results3 ©2019 Visa. All rights reserved. Fiscal First Quarter 2019 Results Q1 2019 (Ending December 31, 2018) in billions, except percentages and per share data USD YoY Change Net Revenues $5.5 13% GAAP Net Income $3.0 18% Adjusted Net Income(1) $3.0 17% GAAP Ear
Slide 4: Payments Volume - Quarter ended September
Fiscal First Quarter 2019 Financial Results4 ©2019 Visa. All rights reserved. Quarter ended September Payments Volume* US$ in billions, nominal, except percentages INTL 1,106 INTL 1,167 INTL 649 INTL 676 INTL 456 INTL 491 U.S. 840 U.S. 945 U.S. 449 U.S. 498 U.S. 391 U.S. 446 1,946 2,112 1,098 1,174
Slide 5: Payments Volume - Quarter ended December
Fiscal First Quarter 2019 Financial Results5 ©2019 Visa. All rights reserved. Quarter ended December Current quarter payments volume and other select metrics are provided in the operational performance data supplement in the earnings release to provide more recent operating data. Service revenues co
Slide 6: Transactions
Fiscal First Quarter 2019 Financial Results6 ©2019 Visa. All rights reserved. Quarter ended December Transactions in millions, except percentages Note: Total transactions represent payments and cash transactions as reported by Visa clients on their operating certificates. On occasion, previously sub
Slide 7: Total Cards
Fiscal First Quarter 2019 Financial Results7 ©2019 Visa. All rights reserved. Quarter ended September Total Cards in millions, except percentages 3,209 1,070 2,139 3,347 1,107 2,240 Total Visa Inc. Credit Debit Note: The data presented is based on results reported quarterly by Visa clients on their
Slide 8: Revenue - Q1 2019
Fiscal First Quarter 2019 Financial Results8 ©2019 Visa. All rights reserved. 6,188 (1,326) 4,862 6,962 (1,456) 5,506 Gross Revenues Client Incentives Net Revenues Fiscal 2018 Fiscal 2019 Revenue – Q1 2019 US$ in millions, except percentages YoY Change 10% 13%13% Note: Figures may not recalculate ex
Slide 9: Revenue Detail - Q1 2019
Fiscal First Quarter 2019 Financial Results9 ©2019 Visa. All rights reserved. Revenue Detail – Q1 2019 US$ in millions, except percentages 2,146 2,147 1,666 229 2,342 2,470 1,851 299 Service Revenues Data Processing Revenues International Transaction Revenues Other Revenues Fiscal 2018 Fiscal 2019 Y
Slide 10: Operating Margin - Q1 2019
Fiscal First Quarter 2019 Financial Results10 ©2019 Visa. All rights reserved. Operating Margin – Q1 2019 US$ in millions, except percentages Note: Operating margin is calculated as operating income divided by net operating revenues. Figures may not recalculate exactly due to rounding. Percentage ch
Slide 11: Operating Expenses - Q1 2019
Fiscal First Quarter 2019 Financial Results11 ©2019 Visa. All rights reserved. Operating Expenses – Q1 2019 US$ in millions, except percentages Note: Figures may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. 679 223 160 92 145 236 0 807 276 17
Slide 12: Other Financial Results and Highlights
Fiscal First Quarter 2019 Financial Results12 ©2019 Visa. All rights reserved. Other Financial Results and Highlights • Cash, cash equivalents and investment securities of $15.9 billion as of December 31, 2018 • Adjusted free cash flow of $3.1 billion for the fiscal first quarter • Capital expenditu
Slide 13: Financial Outlook for Fiscal Full-Year 2019
Fiscal First Quarter 2019 Financial Results13 ©2019 Visa. All rights reserved. Financial Outlook for Fiscal Full-Year 2019 Annual net revenue growth Low double-digits on a nominal basis, with approximately 1 percentage point of negative foreign currency impact and de minimus impact from the new reve
Slide 14: Appendix
Appendix
Slide 15: Calculation of Adjusted Free Cash Flow
Fiscal First Quarter 2019 Financial Results15 ©2019 Visa. All rights reserved. Calculation of Adjusted Free Cash Flow A- Management believes that presentation of adjusted free cash flow is useful to measure the Company’s generation of cash available to first re-invest in the business and then return