V Q1 2019 Earnings Report — Visa Inc. Revenue & Financial Results | Market Cap Arena

Q1 2019 Earnings

Reported January 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$5.5B	$5.4B	$4.9B	1.3%	13.2%
Op. Income	$3.7B	$3.4B	$3.3B	9.1%	11.7%
Gross Margin	82.2%	81.5%	82.7%	0.7pp	-0.5pp
Net Margin	54.1%	52.4%	51.9%	1.7pp	2.2pp
EPS (Diluted)	$1.30	$1.23	$1.07	5.7%	21.5%
Free Cash Flow	$3.1B	$3.3B	$2.6B	-4.9%	19.7%

Revenue Flow

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$980M
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$276M
General & Administrative	$367M
SG&A Expenses	$643M
Other Expenses	$166M
Operating Expenses	$809M
Cost & Expenses	$1.8B
OPERATING INCOME	$3.7B
Interest Income	$0
Interest Expense	$145M
Other Income/Expenses	-$87M
INCOME BEFORE TAX	$3.6B
Income Tax Expense	$653M
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	-$105M
BOTTOM LINE NET INCOME	$3.0B
D&A	$159M
EBIT	$3.7B
EBITDA	$3.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$980M
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$276M
General & Administrative	$367M
SG&A Expenses	$643M
Other Expenses	$166M
Operating Expenses	$809M
Cost & Expenses	$1.8B
OPERATING INCOME	$3.7B
Interest Income	$0
Interest Expense	$145M
Other Income/Expenses	-$87M
INCOME BEFORE TAX	$3.6B
Income Tax Expense	$653M
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	-$105M
BOTTOM LINE NET INCOME	$3.0B
D&A	$159M
EBIT	$3.7B
EBITDA	$3.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$3.0B
Depreciation & Amortization	$159M
Stock-Based Compensation	$100M
Deferred Income Tax	$139M
Other Non-Cash Items	$1.4B
Change in Working Capital	-$1.5B
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$157M
Acquisitions (Net)	$157M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$157M
NET CASH FROM INVESTING	-$70M
Net Debt Issuance	$0
Common Stock Repurchased	-$2.4B
Common Dividends Paid	-$572M
Other Financing Activities	-$101M
NET CASH FROM FINANCING	-$3.0B
FREE CASH FLOW	$3.1B
Net Change in Cash	$138M

Balance Sheet

Item	Amount
Cash & Equivalents	$8.3B
Short-Term Investments	$3.5B
Net Receivables	$4.5B
Inventory	$0
Other Current Assets	$3.4B
TOTAL CURRENT ASSETS	$20.1B
PP&E (Net)	$2.4B
Goodwill	$15.1B
Intangible Assets	$27.3B
Long-Term Investments	$4.1B
Tax Assets	$0
Other Non-Current Assets	$2.5B
TOTAL NON-CURRENT ASSETS	$51.5B
TOTAL ASSETS	$71.7B
Account Payables	$124M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$12.8B
TOTAL CURRENT LIABILITIES	$13.4B
Long-Term Debt	$16.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4.8B
Other Non-Current Liabilities	$2.7B
TOTAL NON-CURRENT LIABILITIES	$24.2B
TOTAL LIABILITIES	$37.6B
Common Stock	$0
Additional Paid-In Capital	$16.5B
Retained Earnings	$11.9B
Treasury Stock	$0
Accum. Other Comp. Income	$275M
Other Equity	-$92M
TOTAL STOCKHOLDERS' EQUITY	$34.1B
Minority Interest	$0
TOTAL EQUITY	$34.1B
TOTAL LIABILITIES & EQUITY	$71.7B
Total Debt	$16.6B
Net Debt	$8.3B