Global payments technology company Visa Inc reported a 15 per cent year-on-year rise in net revenue for its fiscal first quarter ended December 31, 2025, supported by steady consumer spending and strong cross-border activity.
Visa’s GAAP net income, reported under standard accounting rules, stood at $5.9 billion, or $3.03 per share, marking increases of 14 per cent and 17 per cent respectively.
Excluding special items, non-GAAP net income, an adjusted measure used by the company, reached $6.1 billion, or $3.17 per share, reflecting rises of 12 per cent and 15 per cent compared to the prior year.
“Visa delivered a very strong fiscal first quarter with net revenue up 15 per cent year-over-year,” Visa CEO Ryan McInerney said in a press release.
Net revenue for the quarter was $10.9 billion, up 15 per cent year-on-year, while payments volume grew 8 per cent on a constant-dollar basis.
Cross-border volume excluding intra-Europe transactions increased 11 per cent, while total cross-border volume rose 12 per cent.
Total processed transactions reached 69.4 billion, up 9 per cent from the previous year.
Service revenue increased 13 per cent to $4.8 billion, while data processing revenue rose 17 per cent to $5.5 billion.
International transaction revenue grew 6 per cent to $3.7 billion, while other revenue increased 33 per cent to $1.2 billion.
Client incentives totalled $4.3 billion, up 12 per cent year-on-year.
GAAP operating expenses were $4.2 billion, up 27 per cent, mainly due to higher litigation provisions.
On a non-GAAP basis, operating expenses increased 16 per cent, driven by investments in personnel, marketing and administrative activities.
As of December 31, 2025, Visa held $16.9 billion in cash, cash equivalents and investment in securities.
