Visa Shares Up 3,250% Since IPO; Net Revenue $11.6 Billion, Up 14%; Payments Top $4 Trillion

Visa reported results for its latest fiscal quarter, with processed transactions of 72 billion, up 10% year over year. Net revenue was $11.6 billion, up 14%, marking the fifth consecutive quarter of accelerating growth. Non-GAAP diluted earnings per share were $3.32, up 11%. Global payments volume surpassed $4 trillion in a single quarter for the first time, up 10% year over year, while cross-border volume grew 12%.

Management said on the earnings call that consumer spending remains strong and resilient. The chief financial officer noted that spending growth improved across income brackets compared with the prior quarter, with no signs of weakness among lower-income consumers. U. S. payments volume rose 10% year over year, a pace management said was the first since fiscal 2019, excluding the post-pandemic recovery period.

Value-added services revenue increased 34% on a constant-currency basis to $3.8 billion; commercial and money movement revenue grew 17%; Visa Direct transactions exceeded 4 billion, up 21%. The company operates the world's largest payment network, connecting billions of cards and more than 150 million merchants.

Management said it has clear visibility into renewals, product pipeline and pricing impact for fiscal 2027, with formal guidance to be provided next quarter.

Visa went public on March 19, 2008, at an offering price of $44 per share, then the largest U. IPO, raising $17.9 billion. In March 2015, it executed a 4-for-1 stock split, adjusting the offering price to $11 per share. As of August 6, 2026, the stock traded at $368, up about 3,250% from the offering price. In March 2026, the shares had fallen 21% from their record high, the largest drawdown since 2022; the forward price-to-earnings ratio is currently about 25 times, 1% below its historical high.