Visa reported adjusted earnings of $3.17 per share for the quarter ended December 2025, surpassing the consensus estimate of $3.14 and up from $2.75 in the year-ago period. Net income rose 15% year-over-year to $5.85 billion, reflecting strong consumer spending during the holiday season. The company noted that this marked its ninth consecutive quarter of earnings outperformance, extending a streak that dates back nearly two years.

Revenue for the quarter climbed 11.5% year-over-year to $10.7 billion, driven by a 10% increase in payment volumes and robust cross-border transaction growth of 21%. Operating margin held at 65.7%, consistent with the prior year, as disciplined expense management offset continued litigation costs. Total transactions processed rose to 41.2 billion, up 9% from the prior year.

Management reaffirmed full-year revenue guidance in the range of $44.5 billion to $45.0 billion and expects adjusted earnings of approximately $12.80 to $12.90 per share, implying mid-teens percentage growth over fiscal 2025. The outlook assumes continued momentum in U.S. consumer spending and gradual recovery in international travel volumes. Visa highlighted ongoing investments in digital infrastructure partnerships—such as its recent crypto-to-fiat integration—and cautioned that regulatory developments around interchange fees remain a potential headwind.