A leading payments technology company (V) reported solid financial results for the fiscal fourth quarter as it continued to capitalize on strong consumer spending trends despite the macroeconomic challenges. It has primarily benefited from a significant global shift to cashless payments and a rebound in cross-border travel.
The company’s fiscal fourth-quarter 2022 net revenues increased 19% year-over-year to $7.80 billion. Its non-GAAP net income and EPS came in at $4.10 billion and $1.93, up 16% and 19% year-over-year.
