V · 10-Q · 2026Q1 · Full report
Geographic Revenue Shift
VISA INC. · 2026-04-29 · Importance 54 · Surprise 40 · No source text
Net revenue by geography shows international revenue of $6,911 million for the three months ended March 31, 2026 (versus $5,783 million prior year) and U.S. revenue of $4,319 million (versus $3,811 million prior year), indicating faster growth internationally. Cross-border volume growth and ecommerce were important contributors to international transaction revenue, helping drive the international outperformance. Visa notes that currency translation impacted reported net revenue (exchange rate movements increased net revenue growth by ~1 percentage point) and that FX volatility can cause periodic variability. The company breaks out and discusses U.S. and international revenue as distinct drivers of net revenue performance.
Key facts
- International net revenue for the three months ended March 31, 2026: $6,911 million. source
- U.S. net revenue for the three months ended March 31, 2026: $4,319 million. source
- For the three and six months ended March 31, 2026, exchange rate movements increased our net revenue growth by approximately one percentage point. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +61.6% | International net revenue for the three months ended March 31, 2026: $6,911 million. |
| revenue | positive | realized | — | U.S. net revenue for the three months ended March 31, 2026: $4,319 million. |