Visa reported results for its fiscal fourth quarter, which ended Sept. 30, after the market closed Tuesday, Oct. 27. Net revenue rose 13% to $12.1 billion. GAAP net income was $6.0 billion, or $3.19 a share, up from $5.1 billion, or $2.62 a share, a year earlier. Non-GAAP earnings were $3.48 a share.
Reuters said the quarter showed resilient U.S. consumer spending on travel, shopping and dining out, and that the FIFA World Cup, held June 11 to July 19, helped boost activity on Visa's network. Shares fell more than 1% in extended trading, according to Reuters, after gaining 14.6% this year through Tuesday's close.
Key numbers
- Payments volume: up 9% in constant dollars
- Cross-border volume excluding intra-Europe: up 14%
- Processed transactions: 74.2 billion, up 10%
- Full-year net revenue: $45.9 billion, up 15%
- Quarterly dividend: raised 16% to $0.78 a share, payable Dec. 1 to holders of record Nov. 10
- Buybacks: about 11 million shares for $4.0 billion in the quarter
The quarter included a $469 million litigation provision tied to the interchange multidistrict litigation and a $282 million donation of investments to the Visa Foundation, both excluded from non-GAAP results.
Looking ahead
Reuters reported that Visa expects net revenue growth in fiscal 2027 in the low double digits by percentage. CEO Ryan McInerney called 2026 "a milestone year" and said "trust is the next growth vector for Visa." Visa agreed in August to buy fraud-intelligence company BioCatch for $2.4 billion in cash and expects the deal to close by the end of its fiscal second quarter of 2027.
Our pre-earnings preview has the estimates Visa was measured against.