Visa Non-GAAP EPS of $2.42 in-line, revenue of $8.9B misses by $20M

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Visa (NYSE:V): Q3 Non-GAAP EPS of $2.42 in-line.
Revenue of $8.9B (+9.9% Y/Y) misses by $20M.
Net revenue in the fiscal third quarter was $8.9 billion, an increase of 10%, driven by the year-over-year growth in payments volume, cross-border volume and processed transactions. Net revenue increased 10% on a constant-dollar basis.
Payments volume for the three months ended March 31, 2024, on which fiscal third quarter service revenue is recognized, increased 8% over the prior year on a constant-dollar basis.
Payments volume for the three months ended June 30, 2024 increased 7% over the prior year on a constant-dollar basis.
Cross-border volume excluding transactions within Europe, which drives our international transaction revenue, increased 14% on a constant-dollar basis for the three months ended June 30, 2024. Total cross-border volume on a constant-dollar basis increased 14% in the quarter.

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