Visa Inc. · Q3 FY2026
ReportedJul 28, 2026
Period endedJun 30, 2026
Rule of 40+67
Consensus vs reported
EPS · NON-GAAP
BEAT +3%
$3.32
vs $3.23 expected
QoQ+0.3%
YoY+11.4%
Revenue
BEAT +2%
$11.63B
vs $11.38B expected
QoQ+3.6%
YoY+14.4%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
The quarter in short
Revenue $11.63B, up 14.4% year over year and 3.6% on the quarter. Non-GAAP EPS $3.32, up 11.4% year over year and 0.3% on the quarter. GAAP EPS $2.97. Free cash flow $6.14B, down 2.7% year over year and up 133.8% on the quarter. Non-GAAP EPS beat consensus by 3%. Rule of 40 score +67.
Reported this quarter
Revenue
$11.63B
QoQ +3.6%
YoY +14.4%
EPS · NON-GAAP
$3.32
QoQ +0.3%
YoY +11.4%
EPS · GAAP
$2.97
QoQ −5.4%
YoY +17.9%
Free Cash Flow
$6.14B
QoQ +133.8%
YoY −2.7%
FCF Margin
52.8%
QoQ +29.4 pp
YoY −9.3 pp
P/E Ratio
29.2
QoQ +10.8%
YoY −15.5%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- The guidance went up and the stock still slipped. Full-year revenue growth was raised to the low end of low-teens and EPS growth to the low end of mid-teens, on a quarter that beat both lines — net revenue $11.6B, +14% and EPS $3.32, +11% .
- What moved it was one forward sentence. Suh flagged that currency volatility returns in the fourth quarter to levels last seen in fiscal Q1 — a bigger FX drag than models carried. A raised guide and a specific unpriced headwind in the same call.
- Value-added services grew 34% and part of that is an event. VAS reached $3.8B in constant dollars with all four portfolios ahead of Investor Day targets, but a meaningful chunk came from FIFA World Cup marketing services running through late June.
- Volume crossed $4 trillion in a quarter for the first time, with US payments volume up 10% — the fastest outside pandemic recovery since fiscal 2019 — and credit and debit each accelerating about 2 points sequentially.
- Visa cut technology and product roles while funding technology and product. A $563M GAAP severance charge , with the majority of eliminated roles in those teams, and Suh saying the savings go straight into stablecoin and agentic-commerce work.
Coverage around this release
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| FY2024 Q4 | — | $2.46 | — |
| FY2025 Q1 | — | $2.41 | — |
| FY2025 Q2 | — | $2.17 | — |
| FY2025 Q3 | — | $2.52 | — |
| FY2025 Q4 | — | $2.45 | — |
| FY2026 Q1 | — | $2.83 | — |
| FY2026 Q2 | — | $3.14 | — |
| FY2026 Q3 | $3.23 | $3.32 | +3% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1403161.
HTML
8-K results announcement
Filed Jul 28, 2026
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
455 KB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
Raw archival text of the whole filing
HTML
10-Q quarterly report
Period ended Jun 30, 2026, filed Jul 29, 2026
ZIP
XBRL data bundle
Structured financial statements from the 10-Q
JSON
Company facts (XBRL)
Every figure V has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q3 FY2026, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings