V · 10-Q · 2026Q2 · Full report

Operating Income Drivers

VISA INC. · 2026-07-29 · Importance 54 · Surprise 40 · No source text

Nine-month operating expenses increased 13% year over year to $12.916 billion, while quarterly expenses increased 19% to $4.756 billion. Personnel expense rose to $6.063 billion for the nine-month period, primarily because of higher severance costs, employee count, compensation, and acquisition-related personnel costs. Marketing expense increased because of client marketing and campaigns tied partly to the FIFA World Cup 2026 and the Olympic and Paralympic Winter Games Milano Cortina 2026. Network and processing costs increased from technology and processing-network investments supporting growth and acquisitions, while professional fees also reflected Prisma and Newpay acquisition costs.

Key facts

• Total operating expenses for the three months ended June 30, 2026: $4,756 million.
• Total operating expenses for the nine months ended June 30, 2026: $12,916 million.
• Personnel expenses for the three months ended June 30, 2026: $2,458 million.
• Personnel expenses for the nine months ended June 30, 2026: $6,063 million.
• Non-GAAP operating expenses for the three months ended June 30, 2026: $3,878 million.
• Non-GAAP operating expenses for the nine months ended June 30, 2026: $10,868 million.
• Professional fees increased over the three and nine-month prior-year comparable periods primarily due to higher legal fees and higher expenses associated with client engagements; the nine-month increase also included costs incurred in connection with the acquisition of Prisma and Newpay.
• Interest expense for the nine months ended June 30, 2026: $(566) million.

Impact estimates