Visa Inc. Q2 2026 Earnings Recap

Visa shares advanced 8.1% following fiscal Q2 earnings, as net revenue and EPS beat expectations and management highlighted accelerating growth across core and emerging businesses. Investors responded favorably to double-digit top-line and commercial momentum, as well as expanding opportunities in AI, agentic commerce, and value-added services.

Key Takeaways

• Net revenue rose 17% year-over-year to $11.2 billion, marking the fastest quarterly growth since 2022, and the strongest ex-recovery/acquisitions since 2013.
• EPS increased 20% year-over-year, exceeding the pace of revenue growth.
• Payments volume and processed transactions each grew 9% in constant dollars, while Visa Direct transactions surged 23% to 3.7 billion in the quarter.
• Commercial and money movement revenue climbed 24% in constant dollars, with record-high commercial cross-border volume as a share of total cross-border.
• Value-added services reached 30% of net revenue, growing over 25% in constant dollars, bolstered by AI-driven initiatives and expanding partnerships.