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VISA INC. (V) filed Quarterly Report for the period ended 2011-12-31.
Visa has a market cap of $86.97 billion; its shares were traded at around $108.35 with a P/E ratio of 21.4 and P/S ratio of 9.5. The dividend yield of Visa stocks is 0.8%.
This is the annual revenues and earnings per share of V over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of V.
Highlight of Business Operations:
Reduction in as-converted shares. Total as-converted class A common stock was reduced by 16.2 million shares during the three months ended December 31, 2011, which was funded from $1.6 billion of our operating cash on hand. Of the $1.6 billion, $75 million was used to repurchase class A common stock in the open market. In addition, we deposited $1.57 billion from our operating cash into the litigation escrow account previously established under the retrospective responsibility plan. This deposit has the same economic effect on earnings per share as repurchasing the Company's class A common stock as it reduces the as-converted class B common stock share count. The deposit reduced by an equivalent amount funds previously allocated to the amended July 2011 share repurchase program, which had no remaining authorized funds as of December 31, 2011. See Note 2—Retrospective Responsibility Plan and Note 6—Stockholders' Equity to our unaudited consolidated financial statements.Service revenues in a given quarter are assessed based on payments volume in the prior quarter. Therefore, service revenues reported with respect to the three months ended December 31, 2011 and 2010, were based on payments volume reported by our financial institution clients for the three months ended September 30, 2011 and 2010, respectively.
Our operating revenues, primarily service revenues and international transaction revenues, are impacted by the overall strengthening or weakening of the U.S. dollar as payments volume and related revenues denominated in local or regional currencies are converted to U.S. dollars. There was no significant impact on current quarter results compared to prior year related to the strengthening or weakening of the U.S. dollar.
Cash provided by investing activities was higher compared to the prior year, primarily reflecting net cash proceeds of $291 million from the sales and maturities of investment securities during the first quarter of fiscal 2012.
Reduction in as-converted shares. During the three months ended December 31, 2011, total as-converted class A common stock was reduced by 16.2 million shares, which was funded from $1.6 billion of our operating cash on hand. Of the $1.6 billion, $75 million was used to repurchase class A common stock in the open market. In addition, we deposited $1.57 billion from our operating cash into the litigation escrow account previously established under the retrospective responsibility plan. This deposit has the same economic effect on earnings per share as repurchasing the Company's class A common stock as it reduces the as-converted class B common stock share count. The deposit reduced by an equivalent amount funds previously allocated to the amended July 2011 share repurchase program, which had no remaining authorized funds as of December 31, 2011. See Note 2—Retrospective Responsibility Plan and Note 6—Stockholders' Equity to our unaudited consolidated financial statements.
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