Visa posted 13% fourth-quarter revenue growth and 15% growth for the full year, while the stock was roughly flat, down 0.3% after earnings. The transcript provides no explicit guidance or specific disappointment to explain the muted reaction.
- Fourth-quarter net revenue was $12.1 billion, up 13% year over year; full-year net revenue reached $46 billion, up 15%.
- Commercial and Money Movement Solutions revenue grew 19%, while Value-Added Services revenue grew 30%, both in constant dollars; together, they represented more than 40% of net revenue.
- Full-year payments volume rose 9% in constant dollars. Commercial payments volume grew 12%, and cross-border volume excluding intra-Europe increased 12%.
- Visa processed 281 billion transactions, up 9%, and Visa Direct exceeded 15 billion transactions. Tokenized transactions now account for more than 60% of e-commerce transactions.
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