Visa's Quarterly Revenue Jumped by $800 Million YoY and Hit an All-Time High of $8.75 Billion

The world’s second-largest financial services company by market cap and the biggest credit card provider, Visa, is having another fantastic year. After hitting $12.3 trillion in total payment volume in 2023, up from $11.6 trillion a year before, the digital payments giant has seen its revenue and net income skyrocket in the first months of 2024, showing more people than ever use their Visa credit cards to pay the costs of living.

According to data presented by Stocklytics.com, Visa’s quarterly revenue jumped by almost $800 million year-over-year and hit an all-time high of $8.75 billion in Q1 2024.

Quarterly Revenue Increased by 60% in Five Years

Despite inflation dropping from a June 2022 peak, consumers worldwide still pay higher prices for goods and services than ever. High price tags on everything, from groceries and medication to gas and repair bills, have made life costs unbearable for millions and forced many to turn to credit cards to make ends meet. Visa`s impressive revenue growth showcases this surge in the use of credit cards.

According to Statista and the official company data, Visa generated $8.77 billion in revenue in Q1 2024, almost 10% more than in the same period a year ago and the highest quarterly figure the company has ever reported. Although Visa’s revenue growth significantly slowed down compared to figures reported in 2018 and 2019, and after recovering from the Covid-29 hit in 2021 and 2022, the company’s quarterly revenue still jumped by an impressive 60% in the past five years.

Visa’s net income hit $4.66 billion in Q1, 9.5% more than in the same period last year, but slightly down from an all-time high of $4.89 billion reported in Q4 2023. This quarter-over-quarter drop was caused by an overall deceleration of payment volume growth in its home market in the United States. In contrast, the company’s growth in cross-border volume was relatively positive.

Visa’s Five-Year Investment Return Hits 65%

With impressive revenue and payment volume growth, Visa has added more than $200 billion to its stock value over the past five years and brought solid returns to investors. In May 2019, Visa stock was traded at roughly $162 billion, while the company’s market cap amounted to $355 billion. Since then, Visa’s stock price has jumped by over $100 and hit $268 last week, pushing its market cap to over $538 billion.

Despite Visa’s stock price falling by 7% since reaching an all-time high of over $290 in the third week of March, the company’s five-year investment return still stands at a high of 65%.