Net revenue rose 17% to $11.2 billion in the fiscal second quarter, clocking the fastest pace of growth since 2022
Visa $V's revenue climbed 17% year-over-year in the fiscal second quarter, rising at a pace last seen in 2022, as results came in ahead of what analysts had expected on Tuesday.
Net revenue reached $11.2 billion for the quarter ended March 31, 2026, the company said. At $3.31, adjusted EPS topped the $3.10 consensus analyst forecast.
GAAP net income was $6.0 billion, up 32% year-over-year. GAAP diluted EPS rose 36% to $3.14, while non-GAAP diluted EPS increased 20% to $3.31.
Payments volume grew 9% on a constant-dollar basis, while cross-border volume excluding intra-Europe rose 11%. Total processed transactions reached 66.1 billion, up 9% from a year earlier.
Data processing was up 18% and the largest revenue contributor at $5.5 billion. Service revenue came in at $5.0 billion for a 13% increase. International transaction revenue rose 10% to $3.6 billion. Other revenue climbed 41% to $1.3 billion. Client incentives, up 14%, totaled $4.2 billion.
"Consumer spending remained resilient, and our strategy and innovations fueled strong performance in consumer payments, commercial and money movement solutions and value-added services," CEO Ryan McInerney said in a statement.
McInerney added that the company continued to build out capabilities including agentic and stablecoin features as part of what he described as its position as a "hyperscaler of payments globally."
During the quarter, Visa repurchased about 25 million shares of Class A common stock at an average cost of $320.66 per share for a total of $7.9 billion. Combined with dividends, the company returned $9.2 billion to shareholders. The board also authorized a new $20 billion multi-year share repurchase program. Visa held $14.2 billion in cash, cash equivalents, and investment securities as of March 31, 2026.
The company completed its acquisition of Prisma Medios de Pago S.A.U. and Newpay S.A.U. in Argentina during the quarter, and issued $3.0 billion in fixed-rate senior notes with maturities ranging from three to 10 years and interest rates between 3.8% and 4.7%.
