Visa reports 15% jump in net revenue in Q1 2026

Core Insights - Visa reported a net income of $10.9 billion for its fiscal first quarter of 2026, exceeding Wall Street forecasts and marking a 15% increase from the previous year [1] - The company's performance was driven by growth in payments volume, cross-border volume, and processed transactions, with net revenue rising 13% on a constant-dollar basis [1] Financial Performance - Payments volume increased by 8% year-over-year on a constant-dollar basis, while cross-border volume (excluding Europe) rose by 11% [2] - Total cross-border volume increased by 12% on a constant-dollar basis, and processed transactions reached 69.4 billion, a 9% increase from the prior year [2] - GAAP net income for the quarter was $5.9 billion, or $3.03 per share, reflecting increases of 14% and 17% respectively compared to the previous year [3] Special Items and Investments - The current year's results included special items totaling $707 million related to litigation provisions and $333 million from a deferred tax benefit due to changes in US taxation [3] - Additional costs included $7 million in net losses from equity investments and $66 million related to amortization of acquired intangible assets [4] - Visa's CEO highlighted strong performance driven by consumer spending and investments in technology and infrastructure [4][5]