Visa 3Q Revenue Climbs, Citing Resilient Consumer, Business Spending

By Kelly Cloonan

Visa recorded higher revenue in its latest quarter, with the payments company pointing to resilient spending among consumers and businesses.

The results come as Visa plans to cut about 7% of its workforce as it contends with rapid changes across the payments industry.

Visa's third-quarter profit came in at $5.63 billion, or $2.97 a share, compared with $5.27 billion, or $2.69 a share, a year earlier.

Adjusted earnings per share were $3.32, compared with estimates of $3.23 a share according to analysts polled by FactSet.

Revenue climbed 14% to $11.63 billion, topping analyst estimates of $11.4 billion.

Chief Executive Ryan McInerney said consumer and business spending remains resilient. He highlighted strength across consumer payments, commercial and money movement solutions and value-added services.

In the quarter, payments volume and processed transactions both rose 10% from the year-ago period, while cross-border volumes increased 13%.

McInerney added that Visa is designing, building and shipping products at a faster clip in an effort to position itself to capture opportunities ahead and drive growth.

For the full year, Visa now expects revenue growth at a rate at the low-end of low-teens, compared with its prior forecast for a growth in the low-double-digits to low-teens. The company now expects full-year earnings per share to rise at a rate at the low-end of mid-teens, compared with its previous projection for low teens growth.

For the current fiscal fourth quarter, Visa forecast revenue to grow at a rate at the high-end of low-double-digits and projected earnings-per-share growth at the low-end of mid-teens. Analysts expect revenue growth of about 12.5% for the quarter.

The results and guidance came hours after Visa said it would cut 2,600 jobs, with most of the affected roles in its technology and product teams.

In a memo to employees, McInerney said Visa has to continue evolving how it works as technology trends create "a once-in-lifetime inflection point in payments" that is changing how money moves around the world.

McInerney said AI is helping to accelerate Visa's evolution, and shaping "the way work gets done at Visa."

A number of other large companies have similarly pointed to AI as they announced job cuts in recent months.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

July 28, 2026 16:42 ET (20:42 GMT)