Visa Tops Fiscal Q4 EPS Estimates on 13% Revenue Growth; Shares Slip on Slower FY2027 Guide

V reported fiscal fourth-quarter 2026 net revenue of $12.1 billion, up 13% from a year earlier, and non-GAAP earnings of $3.48 a share, up 17%, according to its earnings release filed with the SEC. That beat the $3.44 consensus by four cents, while revenue landed roughly in line with the $12.09 billion estimate. GAAP EPS was $3.19, after a $469 million interchange-litigation provision and a $282 million donation to the Visa Foundation.

Payments volume grew 9% in constant dollars, a tick slower than the 10% of the prior quarter. Processed transactions rose 10% to 74.2 billion and cross-border volume rose 14%. For the full fiscal year, net revenue reached $45.9 billion, up 15%, and the board raised the quarterly dividend 16% to $0.78 a share. Visa had $24.4 billion left on its buyback authorization at Sept. 30.

The stock slipped between about 1.5% and 2.3% after hours from a $401.86 close. On the call, management guided fiscal 2027 net revenue growth to the low double digits and adjusted EPS growth to the low double digits to low teens, a step down from the 16% adjusted EPS growth of fiscal 2026. Coverage described the outlook as weak, but no source we read said what consensus had expected, so the disappointment is measured against last year's pace rather than a stated estimate. Part of the quarter's EPS beat also came from an 18.4% tax rate tied to legal-settlement benefits that management said will not recur.

What to watch: whether payments-volume growth steadies around 9% or keeps easing, how cross-border volume holds up after its 14% gain, and whether the low-double-digit revenue guide proves conservative against fiscal 2026's 15% growth.