10-QPeriod: Q3 FY2026

VISA INC. Quarterly Report for Q3 Ended Jun 30, 2026

Filed July 29, 2026For Securities:V

Summary

Visa Inc. reported a solid financial performance for the nine months ended June 30, 2026, demonstrating robust revenue growth and increased profitability. Net revenue saw a 15% increase year-over-year, driven by strong growth in payments volume, processed transactions, and cross-border activity. This top-line growth translated into a 17% increase in net income to $17.5 billion, with diluted earnings per share rising to $9.14. Operationally, the company saw significant increases in personnel and marketing expenses, contributing to a 13% rise in total operating expenses for the nine-month period. However, a reduction in litigation provisions provided a partial offset. Visa also completed a significant acquisition in Argentina for $1.5 billion and continued its aggressive share repurchase program, returning substantial capital to shareholders through buybacks and dividends. The company maintains a strong liquidity position and expects it to be sufficient for future needs.

Key Highlights

  • 1Net revenue increased by 15% to $33.8 billion for the nine months ended June 30, 2026.
  • 2Net income rose by 17% to $17.5 billion for the same period, with diluted EPS reaching $9.14.
  • 3Visa completed the acquisition of Prisma and Newpay in Argentina for $1.5 billion in cash in February 2026.
  • 4The company repurchased $16.5 billion of its Class A common stock during the nine-month period.
  • 5Total operating expenses increased by 13% to $12.9 billion, largely due to higher personnel and marketing costs.
  • 6The company deposited $875 million into its U.S. litigation escrow account related to the interchange multidistrict litigation.
  • 7Value-added services revenue grew by 32% to $10.3 billion for the nine months ended June 30, 2026.

Frequently Asked Questions

Visa's revenue growth was primarily driven by increases in nominal payments volume (up 10%), processed transactions (up 9%), and cross-border volume (up 15% excluding Europe). Growth in consumer spending, digital commerce, and cross-border e-commerce and travel activity supported these trends.

Total operating expenses increased by 13% to $12.9 billion for the nine months ended June 30, 2026. The primary drivers were higher personnel expenses, including severance costs and acquisition-related increases, and increased marketing expenses, partly due to major sporting events. Network and processing expenses also rose due to technology investments and acquisitions.

Visa acquired Prisma and Newpay in Argentina for $1.5 billion. They also completed a significant share repurchase program, buying back $16.5 billion of Class A common stock and authorized an additional $20 billion repurchase program. Additionally, Visa issued $3.0 billion in senior notes and repaid $5.6 billion of maturing debt.

For the nine months ended June 30, 2026, Visa recorded an additional accrual of $1.1 billion related to the interchange multidistrict litigation and deposited $875 million into the U.S. litigation escrow account. While litigation provisions decreased overall due to lower accruals for U.S. covered litigation, the company continues to monitor and manage these matters, which are subject to substantial uncertainties.