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Visa V Q2 2025 earnings

Reported April 29, 2025 · After market close

Revenue$9.6BBeat by $42.6MDiluted EPS$2.76Beat by $0.08
Revenue estimate$9.6B
EPS estimate$2.68

Next report

Jul 28, 2026 (In 2 weeks)
Revenue estimate$11.4B
EPS estimate$3.22

Financials

Q2 2025

Income statement

See full
Revenue$9.6B+9.3%
Gross profit$9.4B+9.1%
Operating income$5.4B+1.5%
Net income$4.6B-1.8%
EPS (diluted)$2.32+1.3%

Balance sheet

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Cash & equivalents$19.1B+1.0%
Total debt$24.7B+19.9%
Total equity$38.0B-6.1%
Total assets$92.9B+0.5%

Cash flow

See full
Operating cash flow$4.7B+3.5%
CapEx$327.0M+16.4%
Free cash flow$4.4B+2.6%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$676.04B+23.1%
Enterprise value$681.62B+23.7%
P/E34×+4.1×
P/S18×+1.9×

Profitability

See full
Gross margin97.8%0.0pp
Operating margin63.7%-0.4pp
Net margin52.9%-1.0pp
FCF margin54.5%-3.3pp

Returns & leverage

See full
Return on equity50.7%+4.1pp
Debt / equity0.6×+0.1×
Current ratio1.1×-0.3×

Segments

By product

See full
Data processing revenue$4.7B+10.4%
Service revenue$4.4B+9.1%
International transaction revenue$3.3B+10.3%
Other revenue$937.0M+23.9%
Client incentives-$3.7B-14.6%

By geography

See full
U.S.$3.8B—

Versus estimates

Revenue

Q2 2026$11.2BBeat by $479.0MQ1 2026$10.9BBeat by $213.0MQ4 2025$10.7BBeat by $105.2MQ3 2025$10.2BBeat by $324.3M
Q2 2025$9.6BBeat by $42.6M
Q1 2025$9.5BBeat by $161.6M

Diluted EPS

Q2 2026$3.31Beat by $0.21Q1 2026$3.17Beat by $0.03Q4 2025$2.98Beat by $0.01Q3 2025$2.98Beat by $0.13
Q2 2025$2.76Beat by $0.08
Q1 2025$2.75Beat by $0.09

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Questions, answered.

When did Visa report Q2 2025 earnings?
Visa (V) reported Q2 2025 earnings on April 29, 2025 after market close.
What were Visa's Q2 2025 revenue and EPS?
Visa reported revenue of $9.6B and diluted EPS of $2.76 for Q2 2025.
Did Visa beat estimates in Q2 2025?
Revenue beat the consensus estimate of $9.6B by $42.6M. EPS beat the consensus estimate of $2.68 by $0.08.
Where can I find Visa's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001403161-25-000035) and the 10-Q periodic report (0001403161-25-000037) directly on SEC EDGAR. The filing index links above go to sec.gov.