Visa FY 3Q16 Earnings Call Notes

posted in: Notes | 0

Visa (V) Charles W. Scharf on Q3 2016 Results

Payments volume growth was similar to last quarter

“Overall, payments volume, cross-border volume growth, and processed transaction growth was similar to last quarter. The following numbers do not include Europe. U.S. payments volume growth was 10%, basically unchanged from last quarter after adjusting for leap year. International payments volume growth was 11%, down from 14% last quarter, driven almost entirely by lower domestic transactions in China that yield very little revenue. Cross-border volume growth was 5%, unchanged. Processed transaction growth was 10%, an acceleration of one point due to lapping of Russian’s NSPK migration.”

Brexit doesn’t change strategic rationale for Visa Europe

‘Regarding Brexit, just let me make a couple of comments. First of all, with Brexit or without Brexit, it does not change our long-term view that the strategic rationale for putting these two companies together makes extraordinary sense. ”