Visa 8-K

Summary

Q1 FY2026 results and quarterly dividend declaration. Net revenue grew 15% (13% on a constant-dollar basis), driven by growth in payments volume, cross-border volume and processed transactions; Visa cited resilient consumer spending, a strong holiday season and continued strength in value-added services and commercial and money movement solutions. An amended settlement of interchange multidistrict litigation injunctive-relief class claims remains subject to court approval.

Key Figures

• Constant-dollar growth: payments volume 8%, cross-border volume excluding intra-Europe 11%, total cross-border volume 12% and processed transactions 9%; processed transactions totaled 69.4B. GAAP operating expenses rose 27%, primarily due to a $707M litigation provision; non-GAAP operating expenses rose 16%.
• Current-quarter GAAP results included a $333M deferred tax benefit. Visa deposited $500M into its litigation escrow account, which it said had the same EPS effect as repurchasing shares at a $354.46 volume-weighted average price.
• Share repurchases were $3.8B for approximately 11M Class A shares at an average $342.13 per share; diluted weighted-average Class A shares were 1.93B vs 1.99B, down 2.6%. Remaining repurchase authorization was $21.1B. Cash, cash equivalents and investment securities totaled $16.9B at quarter-end. The board declared a $0.67-per-share dividend, payable 3/2/2026 to holders of record 2/10/2026.

Guidance

No guidance in this filing.

Investor Takeaways

• Court approval of the amended settlement remains pending; approval would resolve the interchange litigation injunctive-relief class claims.