Visa has reported a GAAP net income of $20.1bn for the full year 2025 (FY25), marking a 2% increase from the previous year.  

The payments giant’s GAAP earnings per share grew by 5%, reaching $10.20.  

Visa’s net revenue for the year ending 30 September 2025 was $40bn, an 11% increase compared to the previous year.  

This was fuelled by an 8% increase in payments volume on a constant dollar basis, and a 13% increase in cross-border volume, excluding intra-European transactions.  

The total number of processed transactions by Visa reached 257.5 billion, a 10% increase from the prior year. 

The company’s service revenue for the year was reported at $17.5bn, up by 9%.  

Data processing revenue saw a 13% increase to $20bn, and international transaction revenue grew by 12% to $14.2bn.  

Other revenues rose by 27%, reaching $4.1bn. Client incentives amounted to $15.8bn, representing a 14% increase. 

Visa repurchased around 54 million shares of class A common stock at an average price of $335.44 per share, totalling an expenditure of $18.2bn. 

The company had remaining $24.9bn authorised for future share repurchases as of the end of September 2025. 

For the fourth quarter of fiscal year 2025, Visa reported a 4% decrease in net income, totalling $5.1bn, compared to the same quarter of the previous year.  

Net revenue for the fourth quarter rose 12% to $10.7bn, supported by year-over-year gains in payments volume, cross-border activity, and processed transactions.  

Payments volume for the three months ended 30 September 2025 increased 9% on a constant-dollar basis.  

Cross-border volume excluding intra-Europe transactions grew 11% on a constant-dollar basis, while total cross-border volume was up 12%.  

Processed transactions reached 67.7 billion, a 10% increase from a year earlier. 

In the fourth quarter, Visa repurchased approximately 14 million shares of class A common stock at an average price of $349.77 per share, costing $4.9bn. 

Visa CEO Ryan McInerney said: “In our fourth quarter, continued healthy consumer spending drove net revenue up 12% to $10.7 billion. For the full year, Visa delivered strong performance, with net revenue of $40 billion, up 11%, and broad-based growth across key metrics, underscoring the durability of our diverse business model.  

“We continued to invest in our Visa as a Service stack to serve as a hyperscaler across the payments ecosystem. As technologies like AI-driven commerce, real-time money movement, tokenization and stablecoins converge to reshape commerce, our focus on innovation and product development positions Visa to lead this transformation.” 

Recently, Visa unveiled its plans to introduce a stablecoin prefunding pilot through its real-time payments platform, Visa Direct.   

Earlier this month, Visa launched the Trusted Agent Protocol, a framework designed to facilitate secure transactions between merchants and AI agents.