V · 8-K · 20260728PR000103

Operating Expense Trends

VISA INC. · 2026-07-28 · Importance 47 · Surprise 22 · No source text

GAAP operating expenses increased 19% year over year to $4.8 billion, primarily because personnel expenses increased to $2.5 billion from $1.7 billion. Marketing expense increased 54% to $649 million from $421 million, while network and processing expense increased 25% to $280 million. Professional fees increased 32% to $246 million, and depreciation and amortization increased 16% to $367 million. Excluding special items and acquisition-related amortization, non-GAAP operating expenses increased 17% to $3.9 billion, driven primarily by marketing and personnel expenses.

Key facts

• GAAP operating expenses were $4,756 million for the fiscal third quarter, a 19% increase over the prior year. source
• Non-GAAP total operating expenses for the fiscal third quarter were $3,878 million, an increase of 17% over the prior year. source
• Personnel expense for the three months ended June 30, 2026 was $2,458 million. source
• Marketing expense for the three months ended June 30, 2026 was $649 million. source
• Depreciation and amortization expense for the three months ended June 30, 2026 was $367 million. source

Impact estimates