Visa’s recent performance highlights strong earnings and strategic positioning in the stablecoin market. Visa is enhancing its role in the stablecoin market, with over 130 stablecoin-linked card programs across 40 countries, positioning itself as a ‘network of networks.’
Fiscal Fourth Quarter 2025 — Financial Highlights
Visa’s net revenue in the fiscal fourth quarter was $10.7 billion, an increase of 12%, driven by the year-over-year growth in payments volume, cross-border volume and processed transactions. Net revenue increased 11% on a constant-dollar basis.
Payments volume for the three months ended June 30, 2025, on which fiscal fourth quarter service revenue is recognized, increased 8% over the prior year on a constant-dollar basis. Payments volume for the three months ended September 30, 2025 increased 9% over the prior year on a constant-dollar basis.
Cross-border volume excluding transactions within Europe, which drives our international transaction revenue, increased 11% on a constant-dollar basis for the three months ended September 30, 2025. Total cross-border volume on a constantdollar basis increased 12% in the quarter.
Total processed transactions, which represent transactions processed by Visa, for the three months ended September 30, 2025, were 67.7 billion, a 10% increase over the prior year.
Fiscal fourth quarter service revenue was $4.6 billion, an increase of 10% over the prior year, and is recognized based on payments volume in the prior quarter. All other revenue categories are recognized based on current quarter activity. Data processing revenue rose 17% over the prior year to $5.4 billion. International transaction revenue grew 10% over the prior year to $3.8 billion. Other revenue of $1.2 billion rose 21% over the prior year. Client incentives were $4.2 billion, up 17% over the prior year.
Cash, cash equivalents and investment securities were $20.0 billion at September 30, 2025.
Fiscal Full-Year 2025 — Financial Highlights
GAAP net income in the fiscal full-year 2025 was $20.1 billion or $10.20 per share, an increase of 2% and 5%, respectively, over prior year’s results.
Net revenue in the fiscal full-year 2025 was $40.0 billion, an increase of 11%, driven by the year-over-year growth in payments volume, cross-border volume and processed transactions. Net revenue increased 12% on a constant-dollar basis.
Payments volume for the twelve months ended September 30, 2025 increased 8% over the prior year on a constant dollar basis.
Cross-border volume excluding transactions within Europe, which drives our international transaction revenue, increased 13% on a constant-dollar basis for the twelve months ended September 30, 2025. Total cross-border volume on a constant-dollar basis increased 13% for the fiscal year.
Total processed transactions, which represent transactions processed by Visa, for the twelve months ended September 30, 2025, were 257.5 billion, a 10% increase over the prior year.
Fiscal full-year 2025 service revenue was $17.5 billion, an increase of 9% over the prior year. Data processing revenue rose 13% over the prior year to $20.0 billion. International transaction revenue grew 12% over the prior year to $14.2 billion. Other revenue of $4.1 billion rose 27% over the prior year. Client incentives were $15.8 billion, up 14% over the prior year.
Ryan McInerney, Chief Executive Officer, Visa, commented on the results: „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.”
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
