(RTTNews) - Visa Inc. (V) reported that its fourth-quarter non-GAAP earnings per share rose 21 percent year-on-year to $1.47. Non-GAAP earnings per share growth was approximately 23 percent on a constant-dollar basis. On average, 33 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter net revenues were $6.14 billion, an increase of 13 percent, driven by continued growth in payments volume, cross-border volume and processed transactions. Net revenues growth was approximately 15 percent on a constant-dollar basis. Analysts expected revenue of $6.08 billion for the quarter.
Payments volume for the three months ended September 30, 2019, grew 9 percent over the prior year on a constant-dollar basis.
For full year 2020, on adjusted constant-dollar basis, the company projects: mid-teens growth in earnings per share; and low double-digit growth in annual net revenues.
On October 22, 2019, the board of directors declared an increase to Visa's quarterly cash dividend by 20 percent to $0.30 per share of class A common stock, payable on December 3, 2019, to all holders of record as of November 15, 2019.
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