Visa Inc (NYSE: V) announced its fourth quarter and full year 2024 financial results via a press release on its website on October 29, 2024. For the fourth quarter, total sales were $9.6 billion with a 12% year-over-year increase. GAAP net income for the fiscal fourth quarter was $5.3 billion, representing year-over-year growth of 14% over the prior year’s results. For the full year 2024, the company generated total sales of $35.9 billion with a year-over-year increase of 10%. Net income was $19.7 billion, or earnings of $9.73 per share, up 14% from the prior year’s results.
Results included special items of $434 million for litigation related to the Interchange multidistrict litigation («MDL») and $118 million for other legal matters. In addition, the Company recognized $67 million of indirect tax provision releases in fiscal 2021, as well as $57 million of donations of investment securities to the Visa Foundation for lease consolidation. Results of operations also included $94 million of net losses on capital investments and $282 million of amortization of acquired intangible assets and acquisition-related costs.
The company is also expanding its Push-to-Wallet service for virtual cards across the commerce ecosystem. Global leader Visa Inc (NYSE:V) is expanding new features in digital payments to enable seamless push-to-wallet virtual cards. As a result, users can now seamlessly port virtual cards to mobile wallet ecosystems, including Apple Pay and Google Pay, with controls and security that enable precise spending limits and transaction tracking, minimizing the risk of fraud and unauthorized spending.
Visa Inc (NYSE-V) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 0.73% per annum and the actual dividend amount has been approved by the company’s general meeting of shareholders at $0.52 per share. Due to the fact that the company has posted positive financial results for the fourth quarter of 2024 and the full year 2024, as well as the expansion of digital payment services to new features that will enable the seamless use of virtual push-to-wallet cards very popular for buying shares among private investors and multinational investment corporations, where according to analysts of brokerage companies and financial strategists of investment banks, the share price can be expected to grow in the short to medium term investment horizon. The average target price was set at USD 309.85 per share.
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