V · Earnings call · 2026Q3T · Full report

Revenue Performance and Mix

VISA INC. · 2026-10-27 · Importance 54 · Surprise 40 · Contradicted

Fiscal Q4 2026 net revenue was $12.1 billion, up 13% year over year, while full-year net revenue reached a record $46 billion, up 15%. Q4 service revenue grew 14%, data processing revenue grew 16%, international transaction revenue grew 8%, and other revenue grew 40%; client incentives grew 21%. Full-year CMS revenue grew 19% and VAS revenue grew 30% in constant dollars, with CMS and VAS together representing more than 40% of net revenue. Q4 commercial and money movement solutions revenue grew 16% in constant dollars, and VAS revenue grew 31% to $4 billion.

Key facts

• Visa's VAS business generated $14 billion in FY2026 revenue, up 30% in constant dollars and approximately double its 2023 revenue.
• Visa Q4 FY2026 VAS revenue grew 31% year-over-year in constant dollars to $4 billion, driven by underlying business drivers including FIFA-related marketing engagements, pricing and the Prisma acquisition.
• Visa FY2026 net revenue was a record $46 billion, up 15%, its strongest growth in over 15 years excluding the post-pandemic recovery and acquisitions.
• Visa FY2026 CMS revenue grew 19% and VAS revenue grew 30% in constant dollars; together they represented more than 40% of total net revenue.
• Visa Q4 FY2026 net revenue was $12.1 billion, up 13% year-over-year.
• Visa FY2026 net revenue grew 15% to $46 billion and EPS grew 16% to $13.27.
• Visa Q4 FY2026 net revenue grew 13% year-over-year in nominal and constant dollars, in line with expectations.
• Transactions, cards and accounts generated more than 80% of Visa's VAS revenue over the prior five years.

Impact estimates