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Visa

V Q4 2025 Earnings

Reported Oct 28, 2025 at 4:06 PM ET · SEC Source

Q4 25 EPS

$2.98

BEAT +0.34%

Est. $2.97

Q4 25 Revenue

$10.72B

vs S&P Since Q4 25

-10.3%

TRAILING MARKET

V -5.5% vs S&P +4.8%

Full Year 2025 Results

FY 25 EPS

$11.47

BEAT +0.24%

Est. $11.44

FY 25 Revenue

$40.00B

BEAT +0.27%

Est. $39.89B

Market Reaction

Did V Beat Earnings? Q4 2025 Results

Visa closed out fiscal Q4 2025 on solid footing, delivering results that edged past Wall Street expectations on both the top and bottom lines as its global payments network continued to generate broad-based volume growth. Non-GAAP earnings per share … Read more Visa closed out fiscal Q4 2025 on solid footing, delivering results that edged past Wall Street expectations on both the top and bottom lines as its global payments network continued to generate broad-based volume growth. Non-GAAP earnings per share of $2.98, a hair above the $2.97 consensus, grew 10% year-over-year, while net revenue climbed 11.5% to $10.72 billion, ahead of the $10.62 billion analysts had anticipated. Those key metrics heading into the print were underpinned by a familiar combination of drivers: payments volume rose 9% on a constant-dollar basis, cross-border volume excluding intra-Europe grew 11%, and processed transactions reached 67.7 billion, up 10%. The one notable drag was at the GAAP level, where a $899 million litigation provision tied to the interchange multidistrict litigation case pushed GAAP EPS down to $2.62, a 1% year-over-year decline, a reminder that Visa's legal exposure around merchant fee disputes remains an active overhang even as its core operating performance stays firmly on track.

Key Takeaways

  • • Payments volume growth of 9% on a constant-dollar basis in Q4
  • • Cross-border volume excluding intra-Europe grew 11% on a constant-dollar basis
  • • Total cross-border volume grew 12% on a constant-dollar basis
  • • Processed transactions increased 10% to 67.7 billion in Q4
  • • Healthy consumer spending trends
  • • Data processing revenue growth of 17% driven by transaction volume increases
24/7 Wall St

V YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

V Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“In our fourth quarter, continued healthy consumer spending drove net revenue up 12% to $10.7 billion. For the full year, Visa delivered strong performance, with net revenue of $40 billion, up 11%, and broad-based growth across key metrics, underscoring the durability of our diverse business model. We continued to invest in our Visa as a Service stack to serve as a hyperscaler across the payments ecosystem. As technologies like AI-driven commerce, real-time money movement, tokenization and stablecoins converge to reshape commerce, our focus on innovation and product development positions Visa to lead this transformation.”

— Ryan McInerney, Q4 2025 Earnings Press Release

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