V · 10-Q · 2026Q1 · Full report
Operating Income Drivers
VISA INC. · 2026-04-29 · Importance 47 · Surprise 22 · Contradicted
Operating income for the six months ended March 31, 2026 was $13,971 million, up $2,302 million or 19.7% versus $11,669 million in the prior-year six months. The operating income improvement was driven by the $3,027 million increase in net revenue (to $22,131 million) while total operating expenses rose to $8,160 million from $7,435 million (increase $725 million). As a result, operating margin expanded to approximately 63.1% for the six months ended March 31, 2026 (13,971/22,131) from about 61.1% in the prior-year six months (11,669/19,104). Key contributors to higher revenue included data processing and service revenue growth and higher value-added services sales during the period.
Key facts
- Six months ended March 31, 2026: total operating expenses $8,160 million and operating income $13,971 million. source
- Three months ended March 31, 2026: total operating expenses $3,996 million and operating income $7,234 million. source
- The Company’s one reportable segment is Payment Services and the CODM is the Chief Executive Officer who uses consolidated net income to assess performance. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +64.4% | Three months ended March 31, 2026: total operating expenses $3,996 million and operating income $7,234 million. |
| operating_income | positive | realized | — | Six months ended March 31, 2026: total operating expenses $8,160 million and operating income $13,971 million. |