TLDR
- Visa posted adjusted EPS of $3.31, beating the $3.10 estimate, with revenue of $11.2 billion vs. $10.75 billion expected
- Revenue grew 17% year-over-year â the highest growth rate since 2022
- Payments volume rose 9%, cross-border volume grew 12%, processed transactions up 9%
- Visa announced a new $20 billion share buyback program and declared a $0.670 quarterly dividend
- The stock rose over 5% in after-hours/premarket trading after closing down 0.1% at $309.10
Visa delivered a strong fiscal Q2, topping Wall Street on both earnings and revenue. The results came after the close on Tuesday, April 28.
VISA $V Q2'26 EARNINGS HIGHLIGHTS
đš Net Revenue: $11.23B (Est. $10.74B) đ˘; +17% y/y
đš Adj. EPS: $3.31 (Est. $3.10) đ˘; +20% y/y
đš Payments Volume: +9% y/y
đš Cross-Border Volume: +12% y/y
đš Processed Transactions: 66.1B (Est. 66.39B) đĄ; +9% y/y
đ¸ New Authorization: $20.0B⌠pic.twitter.com/MivUEcPtbT— Wall St Engine (@wallstengine) April 28, 2026
Adjusted EPS came in at $3.31, up from $2.76 a year ago and ahead of the $3.10 analyst consensus. Revenue hit $11.2 billion, a 17% year-over-year increase and the fastest growth rate since 2022. Analysts had expected $10.75 billion.
GAAP net income reached $6.0 billion, or $3.14 per share â a 36% jump from the prior year. The quarter included a $311 million litigation provision tied to the interchange multidistrict litigation case.
Payments volume grew 9% on a constant-dollar basis. Cross-border volume rose 12%, while processed transactions hit 66.1 billion, up 9% from a year earlier.
CEO Ryan McInerney said consumer spending stayed resilient through the quarter. He also pointed to progress on what Visa calls its “hyperscaler of payments” strategy, including new agentic and stablecoin capabilities.
Service revenue rose 13% to $5.0 billion. Data processing revenue climbed 18% to $5.5 billion. International transaction revenue grew 10% to $3.6 billion. Client incentives totaled $4.2 billion, up 14%.
Buyback and Capital Return
Visa repurchased roughly 25 million shares for $7.9 billion during the quarter. The board also approved a new $20 billion multi-year buyback program and declared a quarterly dividend of $0.670 per share.
The stock jumped more than 5% in after-hours trading Tuesday following the results, after closing at $309.10. It’s still down around 12% year-to-date.
Rival Mastercard rose 2.8% in after-hours, while American Express gained 1%. Visa’s stock was trading around $325 in Wednesday premarket.
Wolfe Research analyst Darrin Peller said the firm remains “constructive out of the print,” with conviction in sustainable growth and modest room for upside to estimates. He noted spend trends look healthy, aside from a travel-specific dip linked to the Iran war.
Clouds on the Horizon
Not everything is clean. Visa, Mastercard, and American Express all face pressure from multiple directions this year.
Higher oil prices following the U.S. attack on Iran have kept interest rates elevated. In January, President Trump proposed capping credit card interest rates at 10% â roughly half the current average rate of 19.57%. Stablecoins also remain a longer-term competitive concern, offering merchants lower transaction costs and faster settlements.
Wells Fargo’s chief economist Tom Porcelli flagged that daily card spending has dropped sharply in recent weeks, with year-over-year growth going nearly flat. He attributed it to “spending fatigue in the wake of the ongoing war in Iran.”
That weakness is expected to show up in the Census Bureau’s April retail sales data.
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