Slide 1: Visa Inc. Fiscal Fourth Quarter Financial Results
Exhibit 99.2 Visa Inc. Fiscal Fourth Quarter Financial Results October 31, 2012
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by the terms "believe," "continue," “expect," and similar references to the future. Examples of such fo
Slide 3: Solid Fiscal Fourth Quarter Results
Solid Fiscal Fourth Quarter Results Strong operating revenues of $2.7 billion for the fourth quarter, up 15% over prior year Adjusted quarterly net income of $1.0 billion, up 18%, and adjusted diluted earnings per share of $1.54, up 21% over prior year Total as-converted class A common stock was red
Slide 4: Payments Volume
Payments Volume US$ in billions, nominal, except percentages Quarter ended June ROW = Rest of World YOY Change (nominal) 4% 9% (4%) YOY Change (constant) 6% 12% (2%) Note: Figures may not recalculate exactly due to rounding. Percentage changes calculated based on whole numbers, not the rounded numbe
Slide 5: Payments Volume
Payments Volume US$ in billions, nominal, except percentages Quarter ended September Note: Current quarter payments volume and other select metrics are provided in the operational performance data supplement to provide more recent operating data. Service revenues continue to be recognized based on p
Slide 6: Payments Volume
Payments Volume US$ in billions, nominal, except percentages Quarter ended June YOY Change (nominal) (1%) 12% 3% 2% 28% YOY Change (constant) (1%) 13% 20% 6% 39% Note: Figures may not recalculate exactly due to rounding. Percentage changes calculated based on whole numbers, not the rounded numbers p
Slide 7: Payments Volume
Payments Volume US$ in billions, nominal, except percentages Quarter ended September Note: Current quarter payments volume and other select metrics are provided in the operational performance data supplement to provide more recent operating data. Service revenues continue to be recognized based on p
Slide 8: Transactions
Transactions in millions, except percentages Quarter ended September 2011 2012 20,532 19,808 Credit Credit 13,263 13,573 36% 38% Debit Debit 64% 62% Total Processed Transactions Transactions YOY 2% 4% Change Note: Processed transactions represent transactions involving Visa, Visa Electron, Interlink
Slide 9: Total Cards
Total Cards in millions, except percentages Quarter ended June 2011 2012 2,032 1,903 1,251 1,137 766 781 Credit Debit Visa Inc. YOY Change 2% 10% 7% Note: From time to time, previously submitted card information may be updated. Prior period updates are not material. Figures may not recalculate exact
Slide 10: Revenue – Q4 2012
Revenue – Q4 2012 US$ in millions, except percentages Fiscal 2011 Fiscal 2012 3,294 2,959 2,731 2,383 (576) (563) Gross Revenues Incentives Net Operating Revenues YOY Change 11% (2%) 15% FY12 % of Gross Revenues 17% 83% Note: Figures may not recalculate exactly due to rounding. Percentage changes ca
Slide 11: Revenue Detail – Q4 2012
Revenue Detail – Q4 2012 US$ in millions, except percentages Fiscal 2011 Fiscal 2012 1,264 1,105 1,062 925 758 796 171 172 Service Data Processing International Other Revenues Revenues Revenues Transaction Revenues YOY Change 14% 15% 5% –% Note: Figures may not recalculate exactly due to rounding. P
Slide 12: Operating Margin – Q4 2012
Operating Margin – Q4 2012 US$ in millions, except percentages YOY Change 15% 18% 12% (1 ppt) Note: Operating margin is calculated as operating income divided by total operating revenues. Figures may not recalculate exactly due to rounding. Percentage changes calculated based on whole numbers, not t
Slide 13: Operating Expenses – Q4 2012
Operating Expenses – Q4 2012 US$ in millions, except percentages YOY Change 22% 4% 13% 17% 16% 39% NM Note: Figures may not recalculate exactly due to rounding. Percentage changes calculated based on whole numbers, not the rounded numbers presented. Fiscal Fourth Quarter 2012 Financial Results 13
Slide 14: Other Financial Results
Other Financial Results • Cash, cash equivalents, restricted cash, and available-for-sale investment securities of $10.5 billion at the end of the fiscal year, which includes $4.4 billion of restricted cash in the litigation escrow account • Free cash flow of $1.3 billion for the fiscal fourth quart
Slide 15: Financial Metrics for Fiscal Year 2013
Financial Metrics for Fiscal Year 2013 Low double Annual net revenue growth digits 18% to 18.5% Client incentives as % of gross revenues range Under $1 Marketing expenses billion Adjusted annual operating margin About 60% Fiscal Fourth Quarter 2012 Financial Results 15
Slide 16: Financial Metrics for Fiscal Year 2013
Financial Metrics for Fiscal Year 2013 Tax rate 30% to 32% range Adjusted annual diluted class A common stock High teens earnings per share growth $425 million to Capital expenditures $475 million range Annual free cash flow About $5 billion Fiscal Fourth Quarter 2012 Financial Results 16
Slide 17: Appendix
Appendix Reconciliation of Non-GAAP Measures
Slide 18: Reconciliation of Non-GAAP Financial Results – Q4 2012
Reconciliation of Non-GAAP Financial Results – Q4 2012 US$ in millions, except per share data During the fourth quarter of fiscal 2012, the IRS issued a revised Revenue Agent Report effectively withdrawing its proposed adjustment, which would have disallowed the deduction of payments made in fiscal
Slide 19: Reconciliation of Non-GAAP Financial Results – Full Year
Reconciliation of Non-GAAP Financial Results – Full Year US$ in millions, except percentages and per share data Our financial results for fiscal 2012 and 2011 were impacted by the following special items: • Reversal of tax reserves: During the fourth quarter of fiscal 2012, we reversed all previousl
Slide 20: Reconciliation of Non-GAAP Financial Results – Effective Tax Rate
Reconciliation of Non-GAAP Financial Results – Effective Tax Rate US$ in millions, except per share data Our effective income tax rate for fiscal 2012 was impacted by the aforementioned special items. We believe inclusion of these special items in our effective income tax rate is not indicative of o
Slide 21: Calculation of Free Cash Flow
Calculation of Free Cash Flow US$ in millions Additions (+) / Reductions (-) to Net income attributable to Three Months Ended Twelve Months Ended Visa Inc. September 30, 2012 September 30, 2012 Net income attributable to Visa Inc. (as reported) 1,662 2,144 Capital Assets + Depreciation and amortizat