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Sep 30
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
Visa
Visa
Visa Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.comData Processing Revenue
CapyFin.comInternational Txn Revenue
CapyFin.comOther Revenue
CapyFin.comClient Incentives Revenue
CapyFin.com 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
- No detailed guidance provided on geographic revenue performance