Visa beats estimates as payments volume tops $4 trillion

Visa reported fiscal third-quarter net revenue of $11.6 billion on July 28, up 14 percent from a year earlier and ahead of the roughly $11.38 billion analysts expected, according to the company’s results release. Non-GAAP earnings were $3.32 per share, up 11 percent and above the $3.22 consensus, while GAAP earnings were $2.97 per share.

Global payments volume rose 10 percent in constant dollars to surpass $4 trillion for the first time in the company’s history, according to reporting by Quartz. Processed transactions grew 10 percent to 71.7 billion, and cross-border volume excluding transactions within Europe rose 12 percent in constant dollars.

“Visa delivered a strong fiscal third quarter, with net revenue up 14 percent year-over-year,” chief executive Ryan McInerney said in the release, adding that consumer and business spending remained resilient. He said payments volume had exceeded the company’s expectations.

Value-added services revenue, which covers offerings beyond core transaction processing, grew 34 percent in constant dollars to $3.8 billion, outpacing the rest of the business. US payment volume rose 10 percent, which the company described as its strongest growth rate since fiscal 2019 outside the post-pandemic rebound.

Visa raised its full-year outlook, saying it now expects revenue growth at the low end of the low teens in percentage terms and earnings-per-share growth at the low end of the mid-teens. The company said it would continue investing in artificial intelligence, stablecoins and agentic commerce.

The quarter included $563 million in severance costs tied to workforce reductions, and operating expenses rose 17 percent. Visa returned capital to shareholders through $4.9 billion in share repurchases and $1.3 billion in dividends. Its shares slipped about 1 percent in after-hours trading, having closed near the top of their 52-week range, according to Investing.com.