Visa’s Fiscal 2026 Third-Quarter Revenue Rose 14% as Non-GAAP Operating Expenses Grew 17%

Visa’s fiscal third-quarter net revenue increased 14% to $11.6 billion, while non-GAAP earnings per share rose 11% to $3.32. Payment volume grew 10% in constant dollars, and processed transactions increased 10%.

Cross-border volume, excluding transactions within Europe, rose 12% in constant dollars. International transaction revenue increased 6% to $3.853 billion, a slower rate of growth than cross-border volume.

Non-GAAP operating expenses increased 17%, outpacing revenue growth. Marketing and personnel costs were the primary drivers. Client incentives rose 18% to $4.680 billion.