UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33977 VISA INC. (Exact name of Registrant as specified in its charter) Delaware 26-0267673 (State or other jurisdiction of incorporation or ...

Core Insights - Visa reported Q2 revenue of $9.6 billion for fiscal year 2025, exceeding market expectations of $9.55 billion and up from $8.78 billion in the same period last year [1] Financial Performance - The revenue of $9.6 billion represents a year-over-year increase of approximately 9.3% from $8.78 billion [1] - The company outperformed market expectations by $0.05 billion, indicating strong demand and effective business strategies [1]

Q2 2025 Ryan McInerney, Chief Executive Officer, Visa, commented on the "Visa's strong 9% fiscal second quarter net revenue growth was driven by healthy trends in payments volume, cross-border volume and processed transactions. Consumer spending remained resilient, even with macroeconomic uncertainty. Our strategy across consumer payments, commercial and money movement solutions and value-added services, our diversified business model, and our focus on innovation position us well for the rest of the fiscal ...

Analysts expect the San Francisco, California-based company to report quarterly earnings at $2.68 per share, up from $2.51 per share in the year-ago period. Visa projects to report quarterly revenue at $9.55 billion, compared to $8.78 billion a year earlier, according to data from Benzinga Pro. Visa Inc. V will release earnings results for the second quarter, after the closing bell on Tuesday, April 29. Visa has reportedly proposed a $100 million payment to Apple Inc. AAPL to secure the Apple Card network. ...

目前，传统的金融业也已经嗅到了稳定币市场的商机，越来越多的银行开始涉足稳定币市场。法国兴业银行、德 国Oddo BHF、英国Revolut，甚至连香港金管局都开始纷纷布局稳定币市场，期望在这一领域分得一杯羹。 法国兴业银行的子公司Forge已经向散户投资者推出了欧元支持的稳定币。Visa于10月推出了一个供银行发行稳定 币的代币化网络，并计划在2025年与BBVA合作进行试点。Visa的加密货币主管Cuy Sheffield透露，来自香港、新 加坡和巴西的银行对稳定币表现出浓厚兴趣，Visa正与全球多家银行合作。 渣打银行同样在积极参与，已被香港金融管理局选为港币稳定币的首批发行商之一，计划于2025年上线。 稳定币最初主要用于加密资产的交易，但近年来其应用范围迅速扩展。目前，稳定币在跨境支付和外汇储蓄等常 规金融活动中的应用越来越广泛，同时在去中心化金融（DeFi）等新型金融活动中也有重要应用。稳定币的跨境 属性和价值稳定性使其成为国际支付和资产储备的理想选择。 据媒体报道，3月下旬原中国社科院金融研究所所长李扬对比特币和稳定币的发展提出了自己的看法，他介绍说， 美国不仅明确要发展比特币，而且把比特币列为国 ...

When it comes to quality, Visa (NYSE: V ) is one of the highest-quality stocks investors could own. This is also a likely reason why the greatest investor of all time, Warren Buffett, owns them in his portfolio.Contributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone to do their own due dili ...

Core Viewpoint - Visa Inc. is expected to report strong second-quarter fiscal 2025 results, with earnings projected at $2.68 per share and revenues at $9.56 billion, indicating year-over-year growth of 6.8% and 9% respectively [1][2] Financial Estimates - The Zacks Consensus Estimate for Visa's fiscal 2025 revenues is $39.6 billion, reflecting a year-over-year increase of 10.2%, while the EPS estimate is $11.30, indicating a 12.4% rise [2] - Visa has a history of exceeding earnings estimates, having beaten them in the last four quarters by an average of 3% [2] Earnings Predictions - The model predicts a likely earnings beat for Visa, supported by a positive Earnings ESP of +0.10% and a Zacks Rank of 3 (Hold) [3] - Total Gross Dollar Volume is estimated to increase by 5.5% year-over-year, with the model predicting 5% growth [4] Transaction Growth - The Zacks Consensus Estimate for total processed transactions indicates a 10.1% year-over-year growth, while the model predicts a 9.5% increase [5] - Total payment volumes are expected to rise by 7.4% year-over-year, with U.S. operations projected to grow by 6% [6] Revenue Growth - Data processing revenues are estimated to grow by 9.2% year-over-year, while service revenues are expected to increase by 9.1% [7] - International transaction revenues are projected to grow by 12.7% year-over-year, supported by continuous growth in cross-border volumes [8] Expense Considerations - Adjusted total operating expenses are expected to rise by more than 10% year-over-year due to increased costs in various areas [10] - Client incentives are estimated to be around $3.8 billion for the fiscal second quarter [10] Stock Performance - Visa's stock has declined by 2.5% in the past month, outperforming the industry and S&P 500 declines of 4.1% and 5.9% respectively [11] - Visa is currently trading at 27.73X forward 12-month earnings, above its five-year median of 26.92X and the industry's average of 22.52X [14] Investment Outlook - Visa's low-risk, transaction-based business model positions it well in a volatile macroeconomic environment, benefiting from the shift to digital payments [17] - The company continues to invest in real-time payments and blockchain, reinforcing its long-term growth potential [17] - However, Visa faces regulatory risks and its stock is trading close to its 52-week high, suggesting limited short-term upside [18]

Investment Rating - The report initiates coverage with an OUTPERFORM rating for VISA [2][9]. Core Insights - VISA is positioned as a global leader in digital payments, transitioning from a payment clearing network operator to a comprehensive digital payment infrastructure provider and fintech empowerment platform [3][9]. - The company has established a robust competitive moat through its first-mover advantage, network effects, and continuous technological innovation, which supports its market leadership [9][46]. Financial Overview - Current price: US$334.37, Target price: US$364.35, Market capitalization: US$653.22 billion [2]. - Revenue projections for FY25, FY26, and FY27 are US$39.33 billion, US$43.15 billion, and US$47.54 billion respectively, with a compound annual growth rate (CAGR) of approximately 10% [4][8]. - Net profit estimates for the same periods are US$22.06 billion, US$24.36 billion, and US$26.68 billion, reflecting a CAGR of around 10% [4][8]. Business Segments - VISA's revenue is derived from four main segments: data processing income (35.6%), payment services income (32.4%), international transaction income (25.5%), and other income (6.4%) [4][6]. - The company anticipates growth in payment services income driven by innovative technologies and increased penetration among high-end consumers [4][8]. Strategic Growth Pillars - The report highlights three strategic pillars for growth: consumer payments, new payment flows, and value-added services, which are expected to drive revenue diversification and enhance platform value [15][16]. - The potential market for new payment flows is estimated at US$200 trillion, with significant opportunities in B2B, B2C, G2C, and P2P transactions [21][22]. Market Position and Competitive Advantage - VISA maintains a leading market share of 61.1% in the U.S. payment card industry, significantly ahead of competitors [3][38]. - The company's light-asset model and high leverage support a strong return on equity (ROE) of 56.5% in FY25, with expectations of continued shareholder returns through buybacks and dividends [7][8]. Technological Innovation - VISA's investment in technology, such as tokenization and contactless payment solutions, enhances transaction security and user experience, contributing to its competitive edge [46][47]. - The company has processed over 100 billion transactions through its VISA Direct platform, which supports real-time fund transfers, further solidifying its position in the digital payment ecosystem [25][28].

Core Insights - Analysts project Visa will announce quarterly earnings of $2.68 per share, a 6.8% increase year over year, with revenues expected to reach $9.56 billion, reflecting a 9% increase from the same quarter last year [1] - The consensus EPS estimate has been adjusted upward by 0.1% over the past 30 days, indicating a reassessment by covering analysts [1][2] Revenue Projections - 'Revenues - Other revenues' are projected to reach $894.31 million, indicating an 18.3% increase year over year [4] - 'Revenues - Service revenues' are expected to be $4.40 billion, suggesting a 9.1% year-over-year change [4] - 'Revenues - Data processing revenues' are forecasted to reach $4.65 billion, reflecting a 9.2% increase from the prior year [4] - 'Revenues - International transaction revenues' are estimated at $3.36 billion, indicating a 12.7% increase from the previous year [5] Transaction Metrics - 'End of Period Connections - Total transactions' are expected to be 61.08 billion, up from 55.46 billion in the same quarter last year [5] - 'Payments Volume - Europe' is projected at $680.29 billion, compared to $620 billion a year ago [6] - 'Total volume' is expected to reach $3,988.87 billion, up from $3,780 billion in the previous year [6] Payments Volume Estimates - 'Payments volume - U.S.A' is forecasted at $1,675.64 billion, compared to $1,561 billion in the same quarter last year [7] - 'Payments volume - LAC' is estimated at $234.23 billion, up from $213 billion a year ago [7] - 'Payments volume - CEMEA' is projected to be $209.41 billion, compared to $182 billion last year [8] - 'Total payments volume' is expected to reach $3,406.83 billion, up from $3,173 billion in the previous year [8] - 'Payments volume - Canada' is estimated at $100.52 billion, compared to $95 billion in the same quarter last year [8] Stock Performance - Visa shares have decreased by 2.9% in the past month, while the Zacks S&P 500 composite has declined by 5.1% [9]

Core Insights - The European Union is seeking to reduce its reliance on American payment systems like Visa, Mastercard, and PayPal due to geopolitical tensions and trade wars [1][2] Group 1: Market Dependence - The European Central Bank (ECB) warns that the dominance of American payment providers poses risks to Europe, with over 60% of card payments in the Eurozone processed through Visa and Mastercard [2] - Thirteen EU member states rely almost entirely on Visa and Mastercard for card payments, highlighting the vulnerability of the European payment system to external shocks [2] - Even in countries like Germany, where local systems like Girocard exist, the influence of American companies remains significant, as services like PayPal and Apple Pay still depend on Visa and Mastercard [2] Group 2: Initiatives for Independence - In response to the risks posed by American payment providers, the ECB is working on developing a digital euro, although it may take several years to implement [3] - The European Payment Initiative aims to create a new payment system called "Wero," which is expected to facilitate user-to-user payments and online transactions, with a potential launch in late 2025 [3] - Partnerships have been established with banks in Germany, Belgium, France, and the Netherlands to support the development of "Wero," and EU regulations may require merchants to offer at least one European payment option [3] Group 3: Challenges and Opportunities - The main challenge lies in creating a competitive payment system that consumers are willing to adopt, as previous attempts like Giropay have failed [4] - Retailers are increasingly dissatisfied with the high fees charged by Visa and Mastercard, which may create an opportunity for a more cost-effective alternative payment system [4] - If the financial industry can develop a cheaper and lower-cost system, it could significantly disrupt the current market dynamics dominated by American providers [4]