Every material Form 8-K Visa has filed with the SEC since October 24, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Visa reported fiscal fourth-quarter 2026 GAAP net income of $6.0 billion, or $3.19 per share, up 18% and 22% from a year earlier, on net revenue of $12.1 billion, up 13%. The board also raised the quarterly cash dividend 16% to $0.780 per share, payable December 1, 2026, to holders of record on November 10, 2026, which adds to shareholder cash returns.
Q4 GAAP net income $6.0 billion ($3.19 per share), up 18% (22% per share); non-GAAP net income $6.6 billion ($3.48 per share), up 13% (17% per share)
Full-year 2026 net revenue $45.9 billion, up 15%; GAAP net income $23.5 billion ($12.32 per share)
Quarterly dividend increased to $0.780 per share, payable December 1, 2026, to holders of record as of November 10, 2026
Q4 share repurchases and dividends totaled $5.2 billion; a pending $2.4 billion cash acquisition of BioCatch is expected to close by the end of fiscal Q2 2027
Visa reported fiscal third-quarter 2026 results for the quarter ended June 30, 2026, with net revenue up 14% to $11.6 billion, GAAP net income of $5.6 billion, and GAAP earnings per share of $2.97, up 10%. The board also declared a quarterly dividend of $0.670 per share, payable September 1, 2026, and the company repurchased about $4.9 billion of class A stock during the quarter.
Net revenue of $11.6 billion, up 14% year over year; payments volume rose 10% and cross-border volume rose 13% on a constant-dollar basis
GAAP net income of $5.6 billion, or $2.97 per share; non-GAAP net income of $6.3 billion, or $3.32 per share, up 11%
Special items included $563 million in severance costs and a $237 million litigation provision tied to the interchange multidistrict litigation
Quarterly dividend of $0.670 per share payable September 1, 2026, to holders of record as of August 11, 2026
Visa settled its exchange offer for its Class B-1 and Class B-2 common stock on May 12, 2026, and entered into Makewhole Agreements with participating holders that require them to reimburse Visa in cash for certain future U.S. covered litigation escrow deposits. The filing also estimates the interchange reimbursement fees at issue in unresolved U.S. covered litigation claims at $17.4 billion as of May 11, 2026, a figure the company says will continue to increase.
Exchange offer for Class B-1 and Class B-2 common stock settled May 12, 2026; Makewhole Agreements effective May 11, 2026
Participating holders must reimburse Visa in cash for future litigation escrow deposits once their Class B-3 stock value is depleted
Holders may transfer only up to one-third of Class C stock received before June 25, 2026, and up to two-thirds before August 9, 2026
Estimated interchange fees at issue in unresolved U.S. covered litigation claims: $17.4 billion as of May 11, 2026
Visa reported fiscal second quarter 2026 GAAP net income of $6.0 billion, or $3.14 per share, up 32% and 36% from a year earlier, on net revenue of $11.2 billion, up 17%. The board also authorized a new $20.0 billion multi-year share repurchase program and declared a quarterly dividend of $0.670 per share, which matters to shareholders because it returns more cash to holders while the company's results improved.
Net revenue was $11.2 billion, up 17% (16% on a constant-dollar basis)
GAAP EPS was $3.14, up 36%; non-GAAP EPS was $3.31, up 20%
Board authorized a new $20.0 billion multi-year buyback in April 2026; $13.2 billion remained under prior authorization as of March 31, 2026
Quarterly dividend of $0.670 per share payable June 1, 2026, to holders of record as of May 12, 2026
Visa reported fiscal first-quarter results for the period ended December 31, 2025, with net revenue up 15% to $10.9 billion and GAAP net income up 14% to $5.9 billion. The company also declared a quarterly dividend of $0.670 per class A share, payable March 2, 2026, which shows continued cash returns to shareholders, though GAAP results include a $707 million litigation provision.
Net revenue was $10.9 billion, up 15%; GAAP earnings per share were $3.03, up 17%, and non-GAAP EPS was $3.17, up 15%.
GAAP results included a $707 million litigation provision tied to the interchange multidistrict litigation, and a $333 million deferred tax benefit.
Share repurchases and dividends totaled $5.1 billion in the quarter, with $21.1 billion of repurchase authorization remaining as of December 31, 2025.
Quarterly dividend of $0.670 per class A share declared January 27, 2026; record date February 10, 2026; payable March 2, 2026.
Visa reported fiscal fourth-quarter 2025 net revenue of $10.7 billion, up 12%, with GAAP net income down 4% to $5.1 billion, mainly due to an $899 million litigation provision. The board also raised the quarterly dividend 14% to $0.670 per share, payable December 1, 2025.
Net revenue of $10.7 billion for the quarter ended September 30, 2025, up 12%
GAAP net income of $5.1 billion, or $2.62 per share, down 4% and 1%; includes $899 million litigation provision
Non-GAAP earnings per share of $2.98, up 10%
Quarterly dividend raised 14% to $0.670 per share, payable December 1, 2025, to holders of record as of November 12, 2025
Visa's board increased its size from 11 to 12 members and elected Bill Ready, chief executive officer of Pinterest, effective September 29, 2025. Mr. Ready was also appointed to the Finance and Nominating and Corporate Governance Committees, and the board determined he is independent.
Bill Ready elected to Visa's board effective September 29, 2025, with a term expiring at the 2026 Annual Meeting of Shareholders
Board increased from 11 to 12 members
Mr. Ready appointed to the Finance Committee and Nominating and Corporate Governance Committee
Mr. Ready will receive standard non-employee director compensation and will enter into an indemnification agreement
Visa reported fiscal third-quarter 2025 results for the quarter ended June 30, 2025, with net revenue up 14% to $10.2 billion and GAAP net income up 8% to $5.3 billion. GAAP results absorbed a $615 million litigation provision, which is excluded from the company's non-GAAP figures, where EPS rose 23% to $2.98. The board also declared a quarterly dividend of $0.590 per share, payable September 2, 2025.
Net revenue of $10.2 billion, up 14%; payments volume up 8% and cross-border volume up 12% in constant dollars
GAAP EPS of $2.69, up 12%; non-GAAP EPS of $2.98, up 23%
Special item of $615 million for a litigation provision tied to the interchange multidistrict litigation and other legal matters
Quarterly dividend of $0.590 per share payable September 2, 2025, to holders of record as of August 12, 2025
Visa reported fiscal second-quarter 2025 results for the period ended March 31, 2025. Net revenue rose 9% to $9.6 billion, but GAAP net income fell 2% to $4.6 billion because of a $992 million litigation provision, while non-GAAP earnings per share rose 10% to $2.76. The board also authorized a new $30.0 billion multi-year share repurchase program and declared a quarterly dividend of $0.590 per share.
Net revenue of $9.6 billion, up 9% (11% on a constant-dollar basis)
GAAP net income of $4.6 billion, down 2%; GAAP EPS of $2.32, up 1%, including a $992 million litigation provision
Non-GAAP net income of $5.4 billion, or $2.76 per share, up 6% and 10%
New $30.0 billion share repurchase program; $0.590 dividend payable June 2, 2025 to holders of record as of May 13, 2025
Visa reported fiscal first-quarter 2025 results for the quarter ended December 31, 2024, with net revenue of $9.5 billion, up 10% from a year earlier. GAAP net income was $5.1 billion, or $2.58 per share, up 8% per share, while non-GAAP EPS was $2.75, up 14%. The board also declared a quarterly dividend of $0.590 per share, payable March 3, 2025 to holders of record as of February 11, 2025.
Net revenue of $9.5 billion rose 10% (11% on a constant-dollar basis); payments volume grew 9% and processed transactions grew 11%.
GAAP net income of $5.1 billion rose 5%; GAAP EPS of $2.58 rose 8%.
Results included $213 million of severance costs and $75 million of net equity investment losses.
Visa repurchased about 13 million class A shares for $3.9 billion in the quarter and had $9.1 billion of remaining repurchase authorization as of December 31, 2024.
Visa reported fiscal fourth-quarter 2024 net revenue of $9.6 billion, up 12%, and GAAP earnings per share of $2.65, up 17%. The board also raised the quarterly dividend 13% to $0.590 per share, and the filing discloses a Justice Department antitrust lawsuit against the company.
Fiscal Q4 GAAP net income $5.3 billion, up 14%; non-GAAP EPS $2.71, up 16%
Full-year net revenue $35.9 billion, up 10%; full-year GAAP EPS $9.73, up 17%
Quarterly dividend raised 13% to $0.590 per share, payable December 2, 2024, to holders of record as of November 12, 2024
U.S. Department of Justice sued Visa on September 24, 2024 over alleged Sherman Act violations; Visa says the suit is meritless
Visa reported fiscal third-quarter 2024 results for the quarter ended June 30, 2024, with net revenue of $8.9 billion, up 10%, and GAAP earnings per share of $2.40, up 20%. Non-GAAP earnings per share were $2.42, up 12%, and non-GAAP net income rose 9% to $4.9 billion. The board also declared a $0.520 per share quarterly dividend, payable September 3, 2024, which shows continued cash returns to shareholders alongside share repurchases and dividends totaling $5.8 billion in the quarter.
Net revenue was $8.9 billion, up 10%, with payments volume up 7% and cross-border volume up 14%.
GAAP net income was $4.9 billion, or $2.40 per share, up 17% and 20% respectively.
Non-GAAP EPS was $2.42, up 12%, while non-GAAP operating expenses rose 14%.
The quarterly dividend is $0.520 per share, payable September 3, 2024, to holders of record as of August 9, 2024.
Visa Inc. filed an 8-K dated May 8, 2024, stating that the settlement of its Exchange Offer is incorporated by reference from Item 1.01. The filing attaches a form of Makewhole Agreement as Exhibit 10.1 but does not state the offer's size, terms, or exchange results, so the financial effect for shareholders cannot be determined from this document.
Filing dated May 8, 2024, signed by CFO Chris Suh
Settlement of the Exchange Offer is incorporated by reference from Item 1.01
Exhibit 10.1 is a Form of Makewhole Agreement, previously filed as Exhibit 99.2 to Amendment No. 1 to Form S-4 (File No. 333-276747) on March 11, 2024
No dollar amounts or exchange ratios are disclosed in this filing
Visa reported fiscal second-quarter 2024 results for the quarter ended March 31, 2024, with net revenue of $8.8 billion, up 10%, and GAAP earnings per share of $2.29, up 12%. The company also declared a quarterly dividend of $0.520 per class A share, payable June 3, 2024, and GAAP results included a $424 million litigation provision that weighed on profit.
Net revenue was $8.8 billion, up 10%; payments volume rose 8% and cross-border volume rose 16%.
GAAP net income was $4.7 billion, or $2.29 per share; non-GAAP net income was $5.1 billion, or $2.51 per share, up 20%.
Quarterly dividend of $0.520 per share is payable June 3, 2024, to holders of record as of May 17, 2024.
Visa reported fiscal first quarter 2024 results for the quarter ended December 31, 2023, with net revenues of $8.6 billion, up 9%, and GAAP net income of $4.9 billion, or $2.39 per share, up 20%. The board also declared a quarterly cash dividend of $0.520 per share, payable March 1, 2024, which shareholders should note alongside the results.
Net revenues were $8.6 billion, up 9% on a nominal and constant-dollar basis.
GAAP net income was $4.9 billion, or $2.39 per share; non-GAAP EPS was $2.41, up 11%.
Cross-border volume excluding intra-Europe rose 16% on a constant-dollar basis; payments volume rose 8%.
The board declared a $0.520 per share dividend on January 23, 2024, payable March 1, 2024, to holders of record as of February 9, 2024.
Visa reported fiscal fourth-quarter 2023 net revenues of $8.6 billion, up 11%, and GAAP earnings per share of $2.27, up 22%, after a $109 million litigation provision. The board raised the quarterly dividend 16% to $0.520 per share and authorized a new $25.0 billion multi-year share repurchase program, while the company also gave a fiscal 2024 outlook.
Q4 net revenues $8.6 billion, up 11%; GAAP net income $4.7 billion, up 19%
Full-year net revenues $32.7 billion, up 11%; full-year GAAP EPS $8.28, up 18%
Quarterly dividend raised 16% to $0.520 per share, payable December 1, 2023, to holders of record as of November 9, 2023
New $25.0 billion multi-year class A share repurchase program authorized in October
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