$V Visa Q3 earnings beat as consumer stays resilient

Jul. 29, 2025
Visa (NYSE:V) stock slipped 2.3% in Tuesday after-hours trading after the payment network company reaffirmed its full-year guidance after fiscal Q3 earnings and revenue topped Wall Street consensus estimates.
The credit card network giant reaffirmed FY2025 EPS growth in low teens; net revenue growth in low double-digits; and operating expense growth in high single-digits to low double-digits.
For Q4, Visa (NYSE:V) expects class A EPS growth in high single-digit percentage, net revenue growth in high single-digit to low double-digits, and operating expense growth in high single-digit to low double-digits.

Fiscal Q3 adjusted EPS of $2.98, topping the average analyst estimate of $2.85, rose from $2.76in Q2 and $ in last year’s Q3.

"Healthy business driver trends continued through the quarter and into the first few weeks of July," said CEO Ryan McInerney. "Consumer spending remains resilient, with continued strength in discretionary and non-discretionary growth in the U.S."

Net revenue for the quarter ended June 30, 2025, was $10.2B, beating the $9.85B consensus and up from $9.59B in the prior quarter and $8.90B a year ago. Service revenue rose 9% Y/Y to $4.33B, data processing revenue increased 15% to $5.15B, and international transaction revenue rose 14% to $3.63B. Client incentives, which subtracted $3.97B from revenue, increased 13% from a year ago.

Visa Inc. (V) total payment volume of $3.62T, topping the Visible Alpha consensus of $3.59T, fell from $3.94T in Q2 and climbed from $3.33T in Q3 2025.

Payments volume increased 8% from a year ago in constant dollars, cross-border volume increased 12%, and processed transactions advanced 10%. That compared with Q2 payments volume growth of 8%, cross-border volume growth of 13%, and processed transactions growth of 9%.

Conference call at 5:00 PM ET.