Visa Tops Revenue and Adjusted EPS Estimates as Fourth-Quarter Revenue Rises 13%

Visa (NYSE: V) reported fiscal fourth-quarter net revenue of $12.1 billion, above the $12.09 billion analysts expected, and non-GAAP earnings of $3.48 per share, above the $3.44 consensus estimate, in an 8-K filed Tuesday, Oct. 27, 2026. Revenue rose 13% from a year earlier on a nominal and constant-dollar basis. GAAP net income was $6.0 billion, or $3.19 per share.

For the full fiscal year ended Sept. 30, net revenue reached a record $45.9 billion, up 15%, and non-GAAP earnings were $13.27 per share, against the $13.23 consensus estimate. Full-year GAAP net income was $23.5 billion, or $12.32 per share.

Volume and transaction growth

Payments volume rose 9% in the quarter on a constant-dollar basis. Cross-border volume excluding intra-Europe transactions grew 14%, and processed transactions rose 10% to 74.2 billion. Service revenue was $5.3 billion, up 14%, while data processing revenue rose 16% to $6.2 billion. International transaction revenue grew 8% to $4.1 billion, and other revenue rose 40% to $1.6 billion.

Expenses and special items

GAAP operating expenses rose 7% to $4.9 billion, driven mainly by general and administrative expenses. Excluding special items and amortization, non-GAAP operating expenses increased 12%. GAAP results in the quarter included a $469 million litigation provision tied to the interchange multidistrict litigation case and a $282 million charitable donation of investments to the Visa Foundation.

Dividend and buybacks

The board raised the quarterly cash dividend 16% to $0.780 per share, payable Dec. 1, 2026, to holders of record as of Nov. 10, 2026. Visa repurchased about 11 million class A shares for $4.0 billion in the quarter and had $24.4 billion of remaining authorized repurchase funds as of Sept. 30. The company also said it signed a definitive agreement in August to acquire BioCatch for $2.4 billion in cash, with closing expected by the end of its fiscal second quarter of 2027.