Visa reported fiscal first quarter 2026 net revenue of $10.9 billion, a 15% increase year-over-year driven by growth in payments volume, cross-border volume, and processed transactions. GAAP net income reached $5.9 billion, or $3.03 per share, representing increases of 14% and 17% respectively over the prior year.
Non-GAAP net income came in at $6.1 billion, or $3.17 per share, up 12% and 15% respectively. Other revenue rose 33% to $1.2 billion, while client incentives increased 12% to $4.3 billion. GAAP operating expenses grew 27% to $4.2 billion, primarily driven by an increase in the litigation provision.
The results reflect Visa’s continued execution across its core payments business, cross-border volumes, and value-added services, along with ongoing investment in AI-powered commerce, stablecoins, and real-time money movement capabilities.