V · Visa Inc.

Visa Inc. delivered robust fiscal Q2 2026 results with net revenue reaching $11.2 billion, up 17% year-over-year and 16% on a constant-dollar basis, fueled by strong growth across key business drivers: payments volume up 9%, total cross-border volume up 12% (excluding intra-Europe up 11%), and processed transactions up 9% to 66.1 billion. Revenue breakdown showed service revenue at $5.0 billion (+13%, based on prior quarter volume), data processing at $5.5 billion (+18%), international transactions at $3.6 billion (+10%), and other revenue surging 41% to $1.3 billion, offset by client incentives of $4.2 billion (+14%). GAAP net income rose 32% to $6.0 billion, with EPS up 36% to $3.14, reflecting resilient consumer spending and innovations in consumer payments, commercial solutions, and value-added services. Non-GAAP figures adjusted for litigation provisions ($311 million current vs. $992 million prior), equity losses, and acquisition costs showed net income up 17% to $6.3 billion and EPS up 20% to $3.31. CEO Ryan McInerney highlighted 17% revenue growth as the highest since 2022, crediting strategy enhancements like Visa as a Service with agentic and stablecoin capabilities to solidify leadership in global payments. Operating expenses fell 4% to $4.0 billion on a GAAP basis due to lower litigation costs, though non-GAAP rose 17% from personnel and marketing. The company returned significant capital with $9.2 billion in repurchases and dividends, including $7.9 billion for 25 million class A shares at $320.66 average, $13.2 billion remaining authorization as of quarter-end, and a new $20 billion multi-year program. A quarterly dividend of $0.670 per share was declared, payable June 1 to May 12 record holders. Balance sheet remains strong with $14.2 billion in cash and equivalents. Other events include $3.0 billion senior notes issuance, Argentina acquisitions of Prisma and Newpay for payment infrastructure, and a class B stock exchange offer expiring May 8.