...A. Highlights: Continued to perform well with approx. 50b transactions on Visa network driving $2.9t in total volume. 1. 2. Revenue growth 13%. Key business drivers remain strong. a. 3. Payments volume growth 11% on constant dollar basis. 4. Cross-border growth on constant dollar basis 7%, slowing 3 percentage points sequentially. Adjusting for cryptocurrency purchases last year and major e-commerce platform localizing volume within Europe, growth slowed just 1 point. a. b. Cross-border volumes slowed through the qtr. and into Jan. 5. Process transaction growth 11%, down 1 percentage point sequentially. 6. Expense growth 17%, primarily driven by personnel and marketing-related expenses. 7. EPS growth 21%. B. Holiday Spending: US: 1. Adjusting for Co.'s specific factors, spending during holiday season in US was relatively strong. a. [Saw] about same growth Co. did last year, which was a strong year. i. b. Stronger debits spend growth was offset by weaker credit performance, slowed later...
