Visa's Q2 results show accelerating revenue growth (17%, highest since 2022) with broad-based strength across payments volume, cross-border, and value-added services. The $20B buyback authorization signals strong capital return commitment. Watch for continued momentum in consumer spending and cross-border travel recovery, as well as regulatory developments around the interchange MDL settlement.
Price Chart
Executive Summary
Visa reported fiscal Q2 2026 results with net revenue of $11.2B (+17% YoY) and non-GAAP EPS of $3.31 (+20% YoY), both exceeding consensus estimates. The board authorized a new $20B share repurchase program, and the company completed the acquisition of Prisma and Newpay in Argentina, while also issuing $3B in senior notes.
Key Financial Metrics
Key Facts
- Net revenue of $11.2B, up 17% YoY (16% constant-currency), the highest growth since 2022
- Non-GAAP EPS of $3.31, up 20% YoY, beating consensus of $3.10
- GAAP EPS of $3.14, up 36% YoY
- Payments volume +9%, cross-border volume +12%, processed transactions +9% (all constant-dollar)
- Board authorized a new $20B multi-year share repurchase program
- Repurchased ~25M shares for $7.9B during the quarter at avg $320.66/share
- Issued $3.0B in senior notes in February 2026
- Completed acquisition of Prisma and Newpay in Argentina
- Quarterly dividend maintained at $0.670/share
- Cash, cash equivalents and investment securities of $14.2B at quarter end
Financial Impact
Net revenue $11.2B (+17% YoY), non-GAAP net income $6.3B (+17% YoY), GAAP net income $6.0B (+32% YoY)
Risk Factors
- Ongoing interchange multidistrict litigation (MDL) with $311M provision this quarter
- Regulatory scrutiny of interchange fees and network rules
- Macroeconomic headwinds potentially impacting consumer spending
- Integration risk from Prisma/Newpay acquisition in Argentina
- Foreign exchange volatility impacting reported results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001403161-26-000077 |
| Document: v-20260428.htm | 0001403161-26-000077 |
| Document: 0001403161-26-000077-index-headers.html | 0001403161-26-000077 |
| Document: 0001403161-26-000077-index.html | 0001403161-26-000077 |
| Document: 0001403161-26-000077.txt | 0001403161-26-000077 |
| 8-K Data (Synthetic) | 0001403161-26-000077 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | Insider Cluster | $378.40 $359.85 | ▼ −4.90% | ▼ −4.75% | $359.85 (−4.90%) |
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Jul 8, 2026 12w ago | ANALYST-UPGRADE | $347.53 $368.18 | ▲ +5.94% | ▲ +2.67% | $359.85 (+3.55%) |
Jul 6, 2026 12w ago | Insider Cluster | $357.25 $366.13 | ▲ +2.49% | ▲ +3.05% | $359.85 (+0.73%) |
Jun 30, 2026 13w ago | ANALYST-UPGRADE | $343.09 $362.53 | ▲ +5.67% | ▲ +6.69% | $359.85 (+4.89%) |
Jun 26, 2026 13w ago | 8-K | $341.65 $355.74 | ▲ +4.12% | ▲ +4.40% | $359.85 (+5.33%) |
Jun 15, 2026 15w ago | 25-NSE | $323.82 $357.75 | ▲ +10.48% | ▲ +11.23% | $359.85 (+11.13%) |
May 12, 2026 20w ago | 8-K | $320.25 $319.05 | ▼ −0.37% | ▲ +0.24% | $359.85 (+12.37%) |
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May 11, 2026 20w ago | 425 | $323.91 $325.05 | ▲ +0.35% | ▲ +0.66% | $359.85 (+11.10%) |
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