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Sep 30, 2025
Visa Q4 2025 Earnings Report
Visa reported solid results in Q4 2025, with strong growth in payments and cross-border volumes despite a year-over-year decline in GAAP net income.
Key Takeaways
Visa delivered a strong Q4 2025 performance, with revenue rising to $10.7 billion and adjusted EPS increasing to $2.98. Key business drivers showed continued momentum, though GAAP net income slightly declined year-over-year due to higher expenses.
Revenue grew 12% year-over-year, reaching $10.7 billion
Adjusted EPS rose 10% to $2.98, while GAAP EPS declined slightly
GAAP Net Income came in at $5.1 billion, down 4% year-over-year
Visa returned $6.1 billion to shareholders through share repurchases and dividends
Revenue by Segment
Forward Guidance
Visa expects continued strong performance into Q1 and full-year 2026 with high-end of low-double-digit revenue growth and low-teens EPS growth on a non-GAAP basis.
Positive Outlook
- Net revenue expected to grow at high end of low-double-digits in Q1 2026
- EPS growth forecasted in the low-teens on a constant-dollar basis
- Operating expenses expected to grow in low-double-digit range
- No material acquisition or FX drag expected for FY 2026
- Strong payments and cross-border growth trends continuing
Challenges Ahead
- GAAP EPS may be affected by litigation and amortization costs
- Foreign exchange expected to be a slight headwind (~0.5%)
- Potential variability in litigation provision impacting earnings
- Macroeconomic uncertainty could affect spending trends
Historical Earnings Impact
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Avg. Return Before/After Earnings
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