Visa Inc. · NYSE:V
Visa — Q1 2018 Earnings Presentation
15 slides from Visa's earnings presentation, Feb 1, 2018
Slide 1: Visa Inc. Fiscal First Quarter 2018 Financial Results
Visa Inc. Fiscal First Quarter 2018 Financial Results February 1, 2018 Exhibit 99.2
Slide 2: Forward-Looking Statements
Fiscal First Quarter 2018 Financial Results2 ©2018 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: Strong Fiscal First Quarter 2018 Results
Fiscal First Quarter 2018 Financial Results3 ©2018 Visa. All rights reserved. Strong Fiscal First Quarter 2018 Results in billions, except percentages and per share data USD ($) Change (YoY) Net Operating Revenue $4.86 9% GAAP Net Income $2.52 22% Adjusted Net Income $2.54 23% GAAP Earnings Per Shar
Slide 4: Payments Volume (Quarter ended September)
Fiscal First Quarter 2018 Financial Results4 ©2018 Visa. All rights reserved. Quarter ended September – Excludes Europe Co-badged Payments Volume* Payments Volume US$ in billions, nominal, except percentages INTL 985 INTL 1,094 INTL 602 INTL 647 INTL 382 INTL 448 U.S. 768 U.S. 836 U.S. 409 U.S. 449
Slide 5: Payments Volume (Quarter ended December)
Fiscal First Quarter 2018 Financial Results5 ©2018 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 2018 Financial Results6 ©2018 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 2018 Financial Results7 ©2018 Visa. All rights reserved. Quarter ended September Total Cards in millions, except percentages 3,076 1,060 2,016 3,210 1,073 2,137 Visa Inc. Credit Debit Note: The data presented is based on results reported quarterly by Visa clients on their operat
Slide 8: Revenue – Q1 2018
Fiscal First Quarter 2018 Financial Results8 ©2018 Visa. All rights reserved. 5,502 (1,041) 4,461 6,188 (1,326) 4,862 Gross Revenues Client Incentives Net Operating Revenues Fiscal 2017 Fiscal 2018 Revenue – Q1 2018 US$ in millions, except percentages YoY Change 27% 9%12% Note: Figures may not recal
Slide 9: Revenue Detail – Q1 2018
Fiscal First Quarter 2018 Financial Results9 ©2018 Visa. All rights reserved. Revenue Detail – Q1 2018 US$ in millions, except percentages 1,918 1,892 1,489 203 2,146 2,147 1,666 229 Service Revenues Data Processing Revenues International Transaction Revenues Other Revenues Fiscal 2017 Fiscal 2018 Y
Slide 10: Operating Margin – Q1 2018
Fiscal First Quarter 2018 Financial Results10 ©2018 Visa. All rights reserved. Operating Margin – Q1 2018 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 2018
Fiscal First Quarter 2018 Financial Results11 ©2018 Visa. All rights reserved. Operating Expenses – Q1 2018 US$ in millions, except percentages Note: Figures may not recalculate exactly due to rounding. Percentage changes are calculated based on unrounded numbers. 571 218 145 80 146 186 15 679 223 1
Slide 12: Other Financial Results and Highlights
Fiscal First Quarter 2018 Financial Results12 ©2018 Visa. All rights reserved. Other Financial Results and Highlights • Cash, cash equivalents and available-for-sale investment securities of $14.1 billion at the end of the fiscal first quarter • Adjusted free cash flow of $2.6 billion for the fiscal
Slide 13: Financial Outlook for Fiscal Full-Year 2018
Fiscal First Quarter 2018 Financial Results13 ©2018 Visa. All rights reserved. Financial Outlook for Fiscal Full-Year 2018 Annual net revenue growth High single digits on a nominal dollar basis, with approximately 0.5 to 1 percentage point of positive foreign currency impact Client incentives as a p
Slide 14: Appendix
Appendix
Slide 15: Calculation of Adjusted Free Cash Flow
Fiscal First Quarter 2018 Financial Results15 ©2018 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