Earnings call transcript: Visa tops Q4 2026 estimates, shares slip after hours

Visa reported stronger-than-expected Q4 2026 earnings, with adjusted earnings per share (EPS) of $3.48, surpassing the consensus estimate of $3.44. The company's revenue of $12.1 billion exceeded forecasts by about $10 million, or 0.08%. The earnings beat was modest, but it demonstrated consistent performance from the company. Visa's revenue grew 15% year-over-year to $46 billion, marking the strongest annual growth in over 15 years.

The company's value-added services business generated $14 billion in revenue, representing a 30% increase in constant dollars. Overall, Visa's transaction volume rose 9% in constant dollars in Q4, with cross-border activity up 14%, and travel-related cross-border volume up 13%. Management attributed the growth to demand in payments, cross-border activity, and money movement.

Despite the positive earnings, Visa's shares fell 1.46% in after-hours trading, indicating investor focus on outlook factors such as higher renewal activity and continued investment spending. Visa's scale remains a key advantage, with 5.2 billion credentials worldwide and nearly 9,000 transactions per second on its network. Management expects fiscal 2027 adjusted net revenue to grow in the low double digits, driven by stable macroeconomic conditions and resilient consumer spending.

Strategic priorities for the company include agentic commerce, stablecoin infrastructure, cyber services, and continued expansion in value-added services.