Filing Flows › Visa (V) › Q1 FY26
Visa (V) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jan 30, 2026
Visa (V) reported revenue of $10.9B for the first quarter fiscal 2026 (Q1 FY26), +15% from a year earlier and +2% from the quarter before. Operating margin was 61.8%, net earnings $5.9B (53.7% of revenue).
Visa, Q1 FY26: revenue $10.9B (+15% year over year), operating margin 61.8%, net earnings $5.9B, operating cash flow $6.8B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.9B | +2% | +15% |
| Operating profit | $6.7B | +10% | +8% |
| Net earnings | $5.9B | +15% | +14% |
| Operating cash flow | $6.8B | +9% | +26% |
| Free cash flow | $6.4B | +9% | +27% |
What changed
Revenue was $10.9B in Q1 FY26, up 15% year over year and up 2% from the previous quarter.
Operating profit was $6.7B, a 61.8% margin (down 3.8 points year over year). Of the extra revenue versus a year earlier, 36% reached operating profit, below the 66% margin then. Total costs grew 27% against revenue growth of 15%. The fastest-growing cost line was Sales & marketing (+34%). Net earnings were $5.9B, up 14% year over year. The effective tax rate was 13.0%.
Operating cash flow was $6.8B (up 26% year over year), 116% of net earnings. Non-cash charges added back $0.33B of depreciation and amortization and $0.23B of share-based compensation. Working capital and other items added $0.37B. Capital expenditures of $0.38B left free cash flow of $6.4B.
Questions
What was Visa's revenue in the first quarter fiscal 2026?
Visa (V) reported revenue of $10.9B for the first quarter fiscal 2026 (Q1 FY26), +15% from a year earlier and +2% from the quarter before.
Was Visa profitable in the first quarter fiscal 2026?
Operating profit was $6.7B (61.8% of revenue) and net earnings $5.9B.
Source: Visa 10-Q on SEC EDGAR.