Visa fiscal fourth-quarter revenue rises 13% to $12.1 billion; board raises dividend 16%

Visa (NYSE: V) reported net revenue of $12.1 billion for its fiscal fourth quarter ended September 30, 2026, up 13% from a year earlier, and raised its quarterly dividend 16% to $0.780 per share, according to its earnings release filed on October 27.

What happened

GAAP net income was $6.0 billion, or $3.19 per share, up 18% and 22% from the prior year's quarter. Non-GAAP net income was $6.6 billion, or $3.48 per share, up 13% and 17%, the company said. Visa's GAAP results included a $469 million litigation provision tied to the interchange multidistrict litigation case and $282 million related to a donation of investments to the Visa Foundation.

Payments volume for the three months ended September 30 rose 9% from a year earlier on a constant-dollar basis. Cross-border volume excluding transactions within Europe rose 14%, and processed transactions rose 10% to 74.2 billion. Client incentives were $5.1 billion, up 21%.

For the full fiscal year, net revenue was $45.9 billion, up 15%, and GAAP net income was $23.5 billion, or $12.32 per share. Chief Executive Officer Ryan McInerney said in the release: "We achieved record net revenue of $46 billion, up 15%, the strongest growth in over 15 years excluding the post-pandemic recovery and acquisitions."

Capital return and deals

Visa repurchased about 11 million class A shares for $4.0 billion in the quarter and about 61 million shares for $20.5 billion over the fiscal year. It had $24.4 billion of remaining authorized funds for share repurchases as of September 30.

The board declared the higher dividend on October 27. It is payable on December 1 to holders of record as of November 10.

On August 3, Visa announced a definitive agreement to acquire fraud-intelligence provider BioCatch for $2.4 billion in cash. The company said the deal is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of the fiscal second quarter of 2027.

What to watch

Visa said its management would discuss the results on a live webcast starting at 5:00 p.m. ET on October 27, and a replay is available on its investor relations site for 30 days. The next dates to track are the dividend record date of November 10 and the payment date of December 1.