Filing Flows › Visa (V) › Q3 FY26 › vs Q2 FY26
Visa (V) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Visa's revenue rose $403M (+4%) from $11.2B in Q2 FY26 to $11.6B in Q3 FY26. Operating margin 59.1% against 64.4% (-5.3 pts).
Visa, Q3 FY26: revenue $11.6B (+14% year over year), operating margin 59.1%, net earnings $5.6B, operating cash flow $6.6B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 59.1% | 64.4% | -5.3 pts |
| Net margin | 48.4% | 53.6% | -5.2 pts |
| Free cash flow margin | 52.8% | 23.4% | +29.4 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $11.6B | $11.2B | $403M | +4% |
| Operating profit | $6.9B | $7.2B | −$357M | -5% |
| Costs & expenses | $4.8B | $4.0B | $760M | +19% |
| Pre-tax earnings | $6.8B | $7.2B | −$341M | -5% |
| Other expense, net | $44.0M | $60.0M | −$16.0M | -27% |
| Sales & marketing | $649M | $545M | $104M | +19% |
| General & admin | $503M | $450M | $53.0M | +12% |
| Other operating costs | $3.6B | $3.0B | $603M | +20% |
| Net earnings | $5.6B | $6.0B | −$393M | -7% |
| Income tax | $1.2B | $1.2B | $52.0M | +5% |
| Depreciation & amortization | $367M | $333M | $34.0M | +10% |
| Share-based compensation | $222M | $275M | −$53.0M | -19% |
| Working capital & other | $337M | −$3.6B | $4.0B | — |
| Operating cash flow | $6.6B | $3.0B | $3.5B | +118% |
| Free cash flow (OCF − capex) | $6.1B | $2.6B | $3.5B | +134% |
| Capital expenditures | $417M | $383M | $34.0M | +9% |
Questions
How much did Visa's revenue grow quarter over quarter in Q3 FY26?
Visa's revenue rose $403M (+4%) from $11.2B in Q2 FY26 to $11.6B in Q3 FY26. Operating margin 59.1% against 64.4% (-5.3 pts).