Visa(US:V)2025-07-29 21:00Financial 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]