V · 10-Q · 2026Q1

VISA INC.

Filed 2026-04-29 · Other · View original filing on EDGAR

Ranked Events

• Value-added Services GrowthImportance 78 · Surprise 74
  Revenue from value-added services increased materially, to $3.3 billion for the three months ended March 31, 2026 (from $2.6 billion prior year) and $6.5 billion for the six months (from $5.0 billion prior year),…
• Income Tax Provision / Rate ChangesImportance 78 · Surprise 74
  Income tax provision recorded in the consolidated statements of operations was $1,153 million for the three months ended March 31, 2026 and $1,942 million for the six months ended March 31, 2026. The three-month 2026…
• Client Incentives and Cash Flow ImpactImportance 74 · Surprise 58
  Client incentives materially affect both revenue and cash flow: client incentives reduced net revenue by $8.51 billion for the six months ended March 31, 2026 (vs. $7.53B prior year) and were an $8.514 billion…
• Acquisition — Prisma and NewpayImportance 71 · Surprise 60
  In February 2026 Visa acquired interests in Prisma Medios de Pago S.A.U. and Newpay S.A.U. in Argentina for total cash consideration of $1.5 billion. The company allocated the $1,509 million purchase price across…
• Litigation Provision and AccrualsImportance 64 · Surprise 42
  The filing discloses accrued litigation activity with large cash payments and changes in balances during the six months ended March 31, 2026, including payments for legal matters totaling $3,110 million and an ending…
• U.S. & Europe Retrospective PlansImportance 64 · Surprise 42
  Under the U.S. retrospective responsibility plan, Visa maintains a litigation escrow to pay settlements or judgments for specified U.S. covered litigation; the beginning escrow balance shown was $2,990 million and…
• Outstanding Indebtedness (Senior Notes)Importance 64 · Surprise 42
  In February 2026, Visa issued fixed‑rate senior notes in a public offering with aggregate principal of $3.0 billion (net proceeds approximately $3.0 billion) with maturities and coupons in the stated ranges; net…
• Capital Return ProgramImportance 64 · Surprise 42
  During the six months ended March 31, 2026, Visa repurchased $11,659 million of Class A common stock in the open market (six-month total) at an average repurchase cost of $327.29 per share. As of March 31, 2026 the…
• Interchange Multidistrict LitigationImportance 58 · Surprise 42
  Visa recorded additional accruals of $894 million for the interchange multidistrict litigation for the six months ended March 31, 2026 and deposited $625 million into the U.S. litigation escrow account; the escrow…
• Settlement Guarantee ManagementImportance 56 · Surprise 24
  Visa indemnifies issuing and acquiring clients for settlement losses if another client fails to fund settlement obligations under Visa operating rules, which creates settlement exposure tied to unsettled payment…
• Geographic Revenue ShiftImportance 54 · Surprise 40
  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),…
• Market Demand TrendsImportance 54 · Surprise 40
  Net revenue growth was driven by increases in nominal cross-border volume (three- and six-month growth of 17% and 16%, excluding Europe), nominal payments volume (reported growth of 10%) and processed transactions…
• Operating Income DriversImportance 47 · Surprise 22
  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…
• Revenue Performance and MixImportance 46 · Surprise 22
  Visa reported net revenue of $22,131 million for the six months ended March 31, 2026, up $3,027 million or 15.8% versus $19,104 million in the prior-year six months. U.S. net revenue for the six months was $8,482…
• Regulatory Risk — Brazil Settlement RequirementsImportance 44 · Surprise 60
  The filing notes recent regulatory developments in Brazil that include enhanced requirements for payment scheme operators which may increase Visa’s settlement-related risks and residual exposure. Visa indemnifies…
• Remaining Performance ObligationsImportance 44 · Surprise 24
  As of March 31, 2026, Visa reported remaining performance obligations of $5.5 billion, comprised of deferred revenue and contract revenue primarily related to value‑added services. The Company expects approximately…
• Fair Value Measurements—EquityImportance 43 · Surprise 32
  Visa’s investments in privately held companies do not have readily determinable fair values and are measured at fair value on a non‑recurring basis and classified as Level 3. As of the period end, the carrying amount…
• Operating Expense TrendsImportance 42 · Surprise 40
  Non-GAAP operating expenses increased 17% for the three and six month periods, driven by higher personnel, marketing and professional fees (including acquisition and legal costs). Personnel expense rose (three months:…
• Liquidity and Cash PositionImportance 30 · Surprise 14
  Operating cash provided decreased to $9,788 million for the six months ended March 31, 2026 (from $10,091 million prior year), primarily due to higher litigation payments, timing of income tax payments and higher…
• Personnel Expense ChangeImportance 29 · Surprise 22
  Personnel expense was $1,841 million for the three months ended March 31, 2026 versus $1,657 million prior year, an increase of approximately 11% year-over-year. The increase was driven by a higher number of employees…

Revenue by Product (in millions)

Revenue by Geography (in millions)