$V · VISA INC.
Visa reported Q4 FY2026 results with net revenue of $12.1B (+13% YoY), GAAP EPS of $3.19, and non-GAAP EPS of $3.48. Full-year FY2026 net revenue reached $45.9B (+15% YoY), which CEO Ryan McInerney called the strongest growth in over 15 years excluding post-pandemic recovery and acquisitions. The board also declared a 16% higher quarterly dividend of $0.780 per share.
- Q4 net revenue of $12.1B, up 13% YoY on both nominal and constant-dollar basis
- Q4 GAAP EPS $3.19 (up 22% YoY); non-GAAP EPS $3.48 (up 17% YoY)
- Full-year FY2026 net revenue $45.9B, up 15% — strongest growth in 15+ years ex-pandemic and acquisitions
- Board declared $0.780/share quarterly dividend, a 16% increase, payable December 1, 2026
- Q4 cross-border volume (ex-intra-Europe) up 14% YoY; processed transactions up 10% to 74.2B
Extended-hours trading shows V at $393.51, down 2.08% from the $401.86 regular close. Despite record full-year revenue and a 16% dividend hike, the after-hours selloff suggests the market may have expected stronger results or forward commentary from the $750B payments giant.
Visa's strongest organic revenue growth in 15+ years paired with a 16% dividend hike should be bullish, but the after-hours selloff signals the market wanted more — a rare negative reaction for a $750B compounder.
Visa's 15% full-year revenue growth and 14% cross-border volume expansion reinforce the ongoing strength in global consumer spending and travel. The 16% dividend increase and $25.6B in full-year buybacks/dividends underscore the cash-generation dominance of the card networks relative to fintech peers.
Litigation remains a material overhang: Q4 included a $469M litigation provision for the interchange MDL case, and full-year provisions totaled $1.7B. The pending $2.4B BioCatch acquisition carries regulatory approval risk and integration execution risk.