Visa’s Q1 adjusted EPS rose 15% to $3.17, beating estimates by $0.03, while revenue climbed 15% to $10.9 billion, surpassing forecasts by 1.9%. Cross-border volumes increased 12% and payment volumes advanced 8%, with 69.4 billion transactions processed, underpinned by U.S., European and Latin American operations.

The Value-Added Services segment drove significant growth, with revenues up 28% in constant dollars to $3.2 billion, led by advisory, fraud prevention, risk management and marketing solutions. Upcoming global events like the FIFA World Cup and Olympics are expected to further boost marketing and analytics demand.

Visa’s blockchain infrastructure enabled annualized stablecoin settlement volumes of $4.6 billion, integrating the Tokenized Asset Platform and stablecoin-enabled cross-border flows. Management views stablecoins as a niche tool in advanced markets but highlights efficiency gains and regulatory clarity as catalysts for institutional adoption.

During the quarter, the company returned $5.1 billion to shareholders through $3.8 billion in buybacks and $1.3 billion in dividends, with $21.1 billion remaining under its repurchase authorization. Shares trade at 24.7X forward P/E versus a five-year median of 26.4X, with dividend yield at 0.81%.