Key facts
- Visa's adjusted net income rose to $6.29 billion ($3.32 per share) in Q3.
- Payment volumes increased 9% in Q2, supported by resilient consumer spending.
- Cross-border volume grew 12% on a constant-dollar basis.
- Data processing revenue increased 18% to $5.54 billion.
- Visa's board authorized a new $20 billion share repurchase program.
- Visa is eliminating approximately 7% of its workforce.
Visa reported a third-quarter profit that surpassed Wall Street estimates, driven by resilient consumer spending and travel demand, including from the World Cup. The payment processor's adjusted net income rose to $6.29 billion, or $3.32 per share, from $5.83 billion, or $2.98 per share, in the same period last year.
Payment volumes increased by 9% in the second quarter, with cross-border volume growing 12% on a constant-dollar basis. Data processing revenue saw an 18% year-over-year increase, reaching $5.54 billion. CEO Ryan McInerney attributed the strong performance to robust consumer spending and the company's payment solutions.
Visa's business model, which focuses on transaction volumes rather than credit risk, provides a stable position amidst economic uncertainties. The company's board has authorized a new $20 billion multi-year share repurchase program. Visa also raised its full-year 2026 earnings per share guidance to low-teens and is expanding its stablecoin settlement volume, which has a current annual run rate of $7 billion.
In an effort to improve efficiency, Visa is eliminating approximately 7% of its workforce, primarily in technology and product teams.