Earnings Call
Jul 28, 2026
Q2 FY2026
EPS Estimate
3.22
EPS Actual
3.31
Post-Earnings Close
$368.73
Earnings Reaction
+0.6%
Visa's fiscal second quarter 2026 delivered what management described as the strongest net revenue growth since 2022, and, excluding the post-pandemic recovery and the Visa Europe acquisition, the strongest since 2013. Net revenue rose 17% year-over-year to $11.2 billion, beating estimates, while EPS grew 20% to $3.31. The outperformance relative to internal expectations was driven by three factors: foreign exchange volatility that recovered more than anticipated during the quarter (though still a year-over-year drag), value-added services revenue that exceeded expectations on broad-based demand for network products and marketing services, and client incentives that grew only 14% due to deal timing and performance adjustments. Payments volume grew 9% in constant dollars to $3.7 trillion, and processed transactions also grew 9% to $66 billion, both consistent with Q1 momentum.
Report generated on Jul 27, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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