VISA INC.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2026 · Filed Nov 5, 2026
V$422.16-0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
VISA
CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Years EndedSeptember 30, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| (in millions, except per share data) | |||
| Net revenue | $45,903 | $40,000 | $35,926 |
| Operating Expenses | |||
| Personnel | 7,934 | 6,961 | 6,264 |
| Marketing | 2,315 | 1,684 | 1,560 |
| Network and processing | 1,066 | 894 | 778 |
| Professional fees | 1,014 | 759 | 635 |
| Depreciation and amortization | 1,403 | 1,220 | 1,034 |
| General and administrative | 2,297 | 1,926 | 1,598 |
| Litigation provision | 1,764 | 2,562 | 462 |
| Total operating expenses | 17,793 | 16,006 | 12,331 |
| Operating income | 28,110 | 23,994 | 23,595 |
| Non-operating Income (Expense) | |||
| Interest expense | (758) | (589) | (641) |
| Investment income (expense) and other | 741 | 789 | 962 |
| Total non-operating income (expense) | (17) | 200 | 321 |
| Income before income taxes | 28,093 | 24,194 | 23,916 |
| Income tax provision | 4,589 | 4,136 | 4,173 |
| Net income | $23,504 | $20,058 | $19,743 |
| Basic Earnings Per Share | |||
| Class A common stock | $12.34 | $10.22 | $9.74 |
| Class B-1 common stock | $19.12 | $15.97 | $15.46 |
| Class B-2 common stock | $18.68 | $15.72 | $15.45 |
| Class B-3 common stock(1) | $18.48 | $— | $— |
| Class C common stock | $49.35 | $40.87 | $38.97 |
| Basic Weighted-average Shares Outstanding | |||
| Class A common stock | 1,689 | 1,714 | 1,621 |
| Class B-1 common stock | 4 | 5 | 148 |
| Class B-2 common stock | 73 | 120 | 49 |
| Class B-3 common stock(1) | 24 | — | — |
| Class C common stock | 12 | 9 | 16 |
| Diluted Earnings Per Share | |||
| Class A common stock | $12.32 | $10.20 | $9.73 |
| Class B-1 common stock | $19.10 | $15.95 | $15.45 |
| Class B-2 common stock | $18.66 | $15.70 | $15.43 |
| Class B-3 common stock(1) | $18.46 | $— | $— |
| Class C common stock | $49.30 | $40.82 | $38.92 |
| Diluted Weighted-average Shares Outstanding | |||
| Class A common stock | 1,907 | 1,966 | 2,029 |
| Class B-1 common stock | 4 | 5 | 148 |
| Class B-2 common stock | 73 | 120 | 49 |
| Class B-3 common stock(1) | 24 | — | — |
| Class C common stock | 12 | 9 | 16 |
(1)No shares of class B-3 common stock were outstanding prior to the class B-1 and B-2 common stock exchange offer in May 2026. See Note 15—Stockholders’ Equity for further details.
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