Filing Flows › Visa (V) › Q3 FY25
Visa (V) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jul 30, 2025
Visa (V) reported revenue of $10.2B for the third quarter fiscal 2025 (Q3 FY25), +14% from a year earlier and +6% from the quarter before. Operating margin was 60.7%, net earnings $5.3B (51.8% of revenue).
Visa, Q3 FY25: revenue $10.2B (+14% year over year), operating margin 60.7%, net earnings $5.3B, operating cash flow $6.7B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.2B | +6% | +14% |
| Operating profit | $6.2B | +14% | +4% |
| Net earnings | $5.3B | +15% | +8% |
| Operating cash flow | $6.7B | +43% | +31% |
| Free cash flow | $6.3B | +44% | +33% |
What changed
Revenue was $10.2B in Q3 FY25, up 14% year over year and up 6% from the previous quarter.
Operating profit was $6.2B, a 60.7% margin (down 6.0 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, below the 67% margin then. Total costs grew 35% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $5.3B, up 8% year over year. The effective tax rate was 16.8%.
Operating cash flow was $6.7B (up 31% year over year), 128% of net earnings. Non-cash charges added back $0.32B of depreciation and amortization and $0.22B of share-based compensation. Working capital and other items added $0.92B. Capital expenditures of $0.42B left free cash flow of $6.3B.
Questions
What was Visa's revenue in the third quarter fiscal 2025?
Visa (V) reported revenue of $10.2B for the third quarter fiscal 2025 (Q3 FY25), +14% from a year earlier and +6% from the quarter before.
Was Visa profitable in the third quarter fiscal 2025?
Operating profit was $6.2B (60.7% of revenue) and net earnings $5.3B.
Source: Visa 10-Q on SEC EDGAR.