V Q1 2017 Earnings Report — Visa Inc. Revenue & Financial Results | Market Cap Arena

Q1 2017 Earnings

Reported February 2, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$4.5B	$4.3B	—	4.7%	—
Op. Income	$3.1B	$2.6B	—	18.1%	—
Gross Margin	83.9%	80.0%	—	3.9pp	—
Net Margin	46.4%	45.3%	—	1.1pp	—
EPS (Diluted)	$0.86	$0.79	—	8.9%	—
Free Cash Flow	$2.3B	$2.3B	—	1.1%	—

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$716M
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$218M
General & Administrative	$266M
SG&A Expenses	$484M
Other Expenses	$161M
Operating Expenses	$645M
Cost & Expenses	$1.4B
OPERATING INCOME	$3.1B
Interest Income	$0
Interest Expense	$140M
Other Income/Expenses	-$121M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$909M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	-$72M
BOTTOM LINE NET INCOME	$2.1B
D&A	$146M
EBIT	$3.1B
EBITDA	$3.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$716M
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$218M
General & Administrative	$266M
SG&A Expenses	$484M
Other Expenses	$161M
Operating Expenses	$645M
Cost & Expenses	$1.4B
OPERATING INCOME	$3.1B
Interest Income	$0
Interest Expense	$140M
Other Income/Expenses	-$121M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$909M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	-$72M
BOTTOM LINE NET INCOME	$2.1B
D&A	$146M
EBIT	$3.1B
EBITDA	$3.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$146M
Stock-Based Compensation	$45M
Deferred Income Tax	$77M
Other Non-Cash Items	$960M
Change in Working Capital	-$790M
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$171M
Acquisitions (Net)	$171M
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$788M
Other Investing Activities	-$171M
NET CASH FROM INVESTING	-$417M
Net Debt Issuance	$566M
Common Stock Repurchased	-$1.9B
Common Dividends Paid	-$399M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.7B
FREE CASH FLOW	$2.3B
Net Change in Cash	$205M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.8B
Short-Term Investments	$3.7B
Net Receivables	$2.5B
Inventory	$0
Other Current Assets	$2.3B
TOTAL CURRENT ASSETS	$14.7B
PP&E (Net)	$2.2B
Goodwill	$14.9B
Intangible Assets	$26.4B
Long-Term Investments	$3.8B
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$48.7B
TOTAL ASSETS	$63.4B
Account Payables	$118M
Short-Term Debt	$2.3B
Deferred Revenue	$0
Other Current Liabilities	$7.5B
TOTAL CURRENT LIABILITIES	$10.3B
Long-Term Debt	$14.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4.8B
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$21.3B
TOTAL LIABILITIES	$31.6B
Common Stock	$0
Additional Paid-In Capital	$17.2B
Retained Earnings	$10.5B
Treasury Stock	-$170M
Accum. Other Comp. Income	-$1.4B
Other Equity	-$128M
TOTAL STOCKHOLDERS' EQUITY	$31.7B
Minority Interest	$0
TOTAL EQUITY	$31.7B
TOTAL LIABILITIES & EQUITY	$63.4B
Total Debt	$16.5B
Net Debt	$10.6B