Group 1 - The core viewpoint is that Visa executives believe stablecoins can address specific use case issues [1] Group 2 - Visa is exploring the potential of stablecoins in the financial ecosystem [1] - The company emphasizes the importance of regulatory clarity for the adoption of stablecoins [1] - Visa's interest in stablecoins aligns with broader trends in the digital currency space [1]

Core Insights - Visa reported strong financial results for the quarter, with significant growth in both revenue and earnings per share, indicating resilient consumer spending [3][4]. Financial Performance - Revenue for Q3 2024 was $8.9 billion, increasing to $10.2 billion in Q3 2025, representing a 14% growth and beating expectations [2]. - Adjusted earnings per share (EPS) rose from $2.42 to $2.98, marking a 23% increase and also surpassing expectations [2]. - Processed transactions grew from 59.3 million to 65.4 million, a 10% increase [2]. - Payment volumes increased from $3.3 billion to $3.6 billion, reflecting a 9% growth [2]. Consumer Behavior - CEO Ryan McInerney described consumer spending as "resilient," with both discretionary and nondiscretionary transactions showing strength [4]. - Cross-border volumes, excluding transactions within Europe, increased by 11%, indicating healthy consumer activity outside the U.S. [4]. Operating Expenses - GAAP operating expenses rose by 35% to $4 billion, primarily due to higher litigation provisions and personnel costs [5]. - Non-GAAP operating expenses, excluding special items, increased by 13% [5]. Share Repurchase - During the quarter, Visa repurchased 14 million shares for $4.8 billion, reducing its share count by over 10% in the past five years [5]. - As of June 30, Visa has $29.8 billion remaining for share repurchases [5]. Market Reaction - Despite strong quarterly results, Visa shares fell approximately 3% in after-market trading, reflecting a cautious investor sentiment [6]. Future Outlook - Visa anticipates high-single-digit to low-double-digit net revenue and operating expense growth for the final quarter of the fiscal year [7]. - Full-year revenue growth is expected to be in the low-double-digit range, with EPS growth projected in the low teens for the year and high single digits for the fourth quarter [7]. Industry Considerations - The company is closely monitoring macroeconomic conditions that could affect consumer spending, particularly credit trends [8]. - Visa is actively addressing potential disruptions from stablecoins and is focusing on innovation in areas like AI to maintain long-term value for shareholders [9].

Financial Performance - Visa's Q3 2025 net revenue reached $10.2 billion, a 14% increase year-over-year[4] - GAAP net income was $5.3 billion, up 8% year-over-year, with GAAP earnings per share at $2.69, a 12% increase[4] - Non-GAAP net income was $5.8 billion, a 19% increase year-over-year, and non-GAAP earnings per share were $2.98, a 23% increase[4] - Operating expenses increased by 35% on a GAAP basis and 13% on a non-GAAP basis[2] Business Drivers - Payments volume increased by 8% year-over-year in constant dollars[5] - Cross-border volume, excluding intra-Europe transactions, increased by 11% year-over-year[5] - Total cross-border volume increased by 12% year-over-year[5] - Processed transactions increased by 10% year-over-year[5] Capital Allocation - The company returned $6.0 billion to shareholders through share repurchases and dividends[6] - Share repurchases amounted to $4.828 billion in Q3 2025[37] - Dividends paid totaled $1.154 billion in Q3 2025[37] Financial Outlook - For Q4 2025, Visa anticipates high-single-digit to low-double-digit growth in net revenue on a non-GAAP adjusted constant-dollar basis[39] - The company projects high-single-digit to low-double-digit growth in operating expenses on the same basis for Q4 2025[39] - Diluted Class A common stock earnings per share are expected to grow by a high-single-digit percentage for Q4 2025 on a non-GAAP adjusted constant-dollar basis[39]

Financial Performance - Visa's EPS of $2.98 per share (adjusted) exceeded estimates by $0.13 [1] - Visa's revenue reached $10.2 billion, surpassing estimates by $360 million [1] Key Drivers - Visa experienced an 8% increase in payments volume [2] - Visa saw a 12% surge in total cross-border volume [2] Market Reaction - Visa's stock initially rose but then decreased slightly, falling less than 1% [2]

Visa reported a fiscal third-quarter profit that topped Wall Street estimates as the world’s biggest payments network reported double-digit gains in cross-border purchases and processed transactions. https://t.co/3jxa0Winb0 ...

Core Insights - Visa's adjusted EPS for the third quarter was reported at $2.98, surpassing analyst expectations of $2.85 [1] Financial Performance - The adjusted EPS of $2.98 indicates a strong performance relative to market expectations, suggesting robust financial health for the company [1]

Core Insights - Visa reported Q3 revenue of $10.2 billion for fiscal year 2025, an increase from $8.9 billion in the same period last year, exceeding market expectations of $9.83 billion [1] Financial Performance - Q3 revenue of $10.2 billion represents a year-over-year growth of approximately 14.6% from $8.9 billion [1] - The reported revenue surpassed market expectations by approximately 4.3% [1]

Visa Reports Fiscal Third Quarter 2025 Results San Francisco, CA, July 29, 2025 – Visa (NYSE: V) Income Statement Summary | In billions, except percentages and per share data. % change is calculated over the comparable prior-year period. | USD | % Change | results: | | --- | --- | --- | --- | | Net Revenue | $10.2 | 14% | | | GAAP Net Income | $5.3 | 8% | | | GAAP Earnings Per Share | $2.69 | 12% | | | (1) Non-GAAP Net Income | $5.8 | 19% | | | (1) Non-GAAP Earnings Per Share | $2.98 | 23% | | Refer to Non- ...

Market Overview - The cryptocurrency market is experiencing a strong rally, with Bitcoin (BTC) reaching an all-time high of 123,091.61 on July 14 and currently hovering around 118,000. Ethereum (ETH) has rebounded sharply, increasing over 57% in the past month [1][2]. Regulatory Developments - The signing of the GENIUS Act by President Donald Trump on July 18 aims to regulate the stablecoin market in the U.S. This act is significant as major retailers like Walmart and Amazon are considering launching their own stablecoins [4]. - Two key regulations pending are The CLARITY Act, which seeks to define the classification of cryptocurrencies, and The Anti-CBDC Surveillance State Act, which aims to prevent the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without Congressional authorization [5][6]. Investment Opportunities - Investing in crypto-centric stocks with favorable Zacks Rank is recommended for near-term gains. Notable stocks include Robinhood Markets Inc. (HOOD), Interactive Brokers Group Inc. (IBKR), IREN Ltd. (IREN), Visa Inc. (V), and Cipher Mining Inc. (CIFR) [3][10]. Company Insights Robinhood Markets Inc. (HOOD) - Robinhood operates a financial services platform allowing users to invest in various assets, including cryptocurrencies. The company is expected to see improved trading revenues due to higher retail participation and product diversification efforts [11][12]. - HOOD has an expected revenue growth rate of 26.8% and earnings growth rate of 20.2% for the current year, with a Zacks Rank of 1 (Strong Buy) [13]. Interactive Brokers Group Inc. (IBKR) - IBKR is a global automated electronic broker that facilitates cryptocurrency trading and has a Zacks Rank of 1. The company is expected to benefit from its proprietary software development and expansion of its product suite [14][15]. - Expected revenue and earnings growth rates for IBKR are 7.4% and 9.7%, respectively, for the current year [16]. IREN Ltd. (IREN) - IREN is a Bitcoin mining company focusing on renewable energy sources for its operations. It holds a Zacks Rank of 2 (Buy) and has an expected revenue growth rate of 86.1% and earnings growth rate of over 100% for the current year [17]. Visa Inc. (V) - Visa is modernizing its digital payment systems and expanding its stablecoin settlement capabilities, collaborating with merchant acquirers like Worldpay and Nuvei. The company has a Zacks Rank of 2 [18][19]. - Expected revenue and earnings growth rates for Visa are 10.3% and 13.1%, respectively, for the current year [20]. Cipher Mining Inc. (CIFR) - Cipher Mining is an industrial-scale Bitcoin mining company that also offers high-performance computing services. It has a Zacks Rank of 2 and an expected revenue growth rate of 72% for the current year, although earnings are projected to decline [21][22].

Earnings Reports - Q2 earnings season is ramping up with major companies like Microsoft, Meta Platforms, Apple, and Amazon set to report earnings this week [2][3] - A total of 164 companies in the S&P 500 are expected to release their earnings results by August 1st [3] Federal Reserve Outlook - The Federal Reserve is unlikely to lower interest rates in the upcoming FOMC meeting, maintaining the current rate of +4.25-4.50% [4] - There is only a 2% chance that the Fed will cut rates at this meeting, with a 67% probability of a 25 basis-point cut in September [5] Labor Market Insights - Initial Jobless Claims have decreased to 217K, but the labor market may be weakening as ADP reported a negative -33K jobs filled in June, the first decline in over two years [7] - The BLS report indicated +147K new jobs in June, but only about 70K were outside government hires, which may not be sufficient to offset the retiring workforce [8]