Visa Inc. revealed on Tuesday that its revenue in the fourth quarter of fiscal 2023 amounted to $8.6 billion, rising by 11% compared to the same period a year earlier. GAAP net income climbed 19% year on year to $4.7 billion, while GAAP earnings per share (EPS) skyrocketed 22% to $2.27.
During the fourth quarter, Visa repurchased 17 million shares of class A common stock at an average cost of $241.03 per share for $4.1 billion. For full fiscal 2023, Visa's revenue climbed 11% compared to 2022 to hit $32.7 billion, and GAAP EPS surged 18% to $8.28.
"Throughout the year, we have seen resilient consumer spending, ongoing recovery of cross-border travel spend versus 2019 and continued growth across our new flows and value added services businesses," Visa's Chief Executive Officer Ryan McInerney said. The company's shares rose 2.05% in after-hours trading.
