Visa posts $11.2B revenue, $20B buyback, stablecoin surge

Visa reported $11.2 billion in fiscal second-quarter net revenue, a 17% increase from a year earlier, and authorized a new $20 billion share repurchase program. The company also disclosed that its stablecoin settlement pilot reached a $7 billion annualized run rate, up 50% from the prior quarter.

Net income rose 32% to $6.0 billion, or $3.14 per share, beating analyst estimates. The board approved the buyback in April; it runs through April 2029. Combined with 36% EPS growth, the buyback reduces share count while earnings rise.

The stablecoin pilot now spans nine blockchain networks, including Polygon and Base, and supports more than 130 stablecoin-linked card programs across over 50 countries, Visa said. In March, the company announced a partnership with Bridge, the stablecoin infrastructure firm Stripe acquired, to issue stablecoin-linked cards in more than 100 countries.

Reports from early June indicate Visa is exploring a shared stablecoin platform with Mastercard (MA) and Stripe.

The stablecoin expansion requires integrating nine different blockchains and complying with regulations in more than 50 countries. A shared platform with two large competitors adds coordination complexity.

Shares of Visa (V) fell 0.95% to $327.24 on the session.