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Visa adjusted net income grows 18% YOY in fiscal Q4'19

Visa Inc. posted adjusted net income for its fiscal fourth quarter of $3.31 billion, or $1.47 per class A common share, an 18% increase from $2.80 billion, or $1.21 per class A share, reported a year ago.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.43.

The company reported net income for its fiscal fourth quarter of $3.03 billion, or $1.34 per class A common share, compared with $2.85 billion, or $1.23 per class A share, reported a year ago.

Visa saw revenue grow about 13% year over year in the fiscal fourth quarter to $6.14 billion.

Payments volume grew 9% on a constant-currency basis year over year, while cross-border volumes were 7% higher than the year-ago quarter. The company's total processed transactions for the fiscal fourth quarter were 36.4 billion, up 11% from the same period of 2018.

For the company's fiscal year ended Sept. 30, adjusted net income was $12.37 billion, or $5.44 per share, up from $10.73 billion, or $4.61 per share, for fiscal year 2018. Net income totaled $12.08 billion, or $5.32 per class A share, compared with $10.30 billion, or $4.43 per class A share, in the previous fiscal year.

The S&P Global Market Intelligence consensus normalized EPS estimate for fiscal year 2019 was $5.40.

Net revenue for the fiscal year totaled $22.98 billion, up from $20.61 billion in fiscal year 2017.

Visa also established guidance for its fiscal year 2020. The company expects EPS growth in the mid-teens on a GAAP, nominal dollar basis and on an adjusted basis. Both projections include 1 percentage point to 1.5 percentage points of negative foreign currency impact.

The company expects net revenue growth in the low double digits in 2020. Fiscal year 2019 net revenue grew 11% from the prior year.

On Oct. 22, Visa's board authorized a 20% increase to the company's quarterly cash dividend to 30 cents per share of class A common stock. The dividend is payable Dec. 3 to all record holders as of Nov. 15.