Visa 8-K
PositiveEarningsLegal / investigation
Cross-border and payments volume growth drive revenue gains; board raises quarterly dividend 16% to $0.780 per share.
Filed 2026-10-27 16:05 ET
- 2.02 Results of Operations
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
Fiscal Q4 and full-year 2026 results, with a quarterly dividend increase. Visa’s Q4 net revenue rose 13% to $12.1B, driven by growth in payments volume, cross-border volume and processed transactions; full-year revenue increased 15% to $45.9B. The board raised the quarterly dividend 16% to $0.780 per share, payable 12/01/2026 to holders of record 11/10/2026.
Key Figures
| Metric | Q4 2026 | FY2026 |
|---|---|---|
| Revenue | $12.1B, +13% Y/Y | $45.9B, +15% Y/Y |
| Operating income | $7.26B, +18% Y/Y | $28.1B, +17% Y/Y |
| GAAP net income | $6.0B, +18% Y/Y | $23.5B, +17% Y/Y |
| Non-GAAP net income | $6.6B, +13% Y/Y | $25.3B, +12% Y/Y |
| GAAP diluted EPS | $3.19, +22% Y/Y | $12.32, +21% Y/Y |
| Non-GAAP diluted EPS | $3.48, +17% Y/Y | $13.27, +16% Y/Y |
| Operating cash flow | — | $23.7B, +3% Y/Y |
| Payments volume growth, constant-dollar | +9% Y/Y | +9% Y/Y |
| Total cross-border volume growth, constant-dollar | +14% Y/Y | +13% Y/Y |
| Processed transactions | 74.2B, +10% Y/Y | 281.3B, +9% Y/Y |
- Q4 revenue included service revenue of $5.3B (+14%), data processing revenue of $6.2B (+16%), international transaction revenue of $4.1B (+8%) and other revenue of $1.65B (+40%). Client incentives were $5.1B, up 21%. FY revenue growth was 14% on a constant-dollar basis.
- Operating expenses rose 7% to $4.9B in Q4; non-GAAP operating expenses rose 12%, primarily on higher marketing and personnel costs. FY non-GAAP operating expenses increased 16%, also driven mainly by personnel and marketing. Litigation provisions were $469M in Q4 and $1.7B for FY2026, versus $899M and $2.5B in the respective prior-year periods. Cash, cash equivalents and investment securities totaled $14.2B at 9/30/2026.
- Q4 share repurchases were approximately 11M shares for $4.0B at an average $369.12 per share; FY repurchases were approximately 61M shares for $20.5B at an average $335.49. Weighted-average diluted class A shares declined from 1.945B to 1.882B in Q4 and from 1.966B to 1.907B for the year. $24.4B remained authorized for repurchases at year-end.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch payments-volume, cross-border-volume and processed-transaction growth in coming quarters: continued expansion from Q4’s 9%, 14% and 10%, respectively, would support the revenue-growth drivers Visa identified; deceleration would weaken that evidence.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-27 22:39:25Z