Visa (NYSE:V) and Mastercard’s (NYSE:MA) quarterly earnings are expected to reflect continued strength in consumer spending, even with tariffs and inflation weighing on consumers’ finances. Visa will report its fiscal Q4 results on Tuesday after market close, and Mastercard (NYSE:MA) plans to issue its Q3 earnings before the market opens on Thursday.
JPMorgan Chase (JPM), Bank of America (JPM), and Wells Fargo (WFC), all with hefty card businesses, reported Q3 earnings earlier this month that showed a resilient consumer. American Express (AXP), a direct competitor with Visa and Mastercard as a card network operator, showed network volume growth increased 8.7% Y/Y in Q3, up from 7.1% growth in Q2 2025.
Reading through to Visa (NYSE:V) and Mastercard (NYSE:MA), KBW analyst Sanjay Sakhrani estimates Visa’s U.S. payment volume growth of 7.0% Y/Y for Q4, up from 6.9% in Q3, and Mastercard’s U.S. gross dollar volume growth of 7.0% for Q3, up from 6.4% in the prior quarter.
The average analyst estimate for Visa (NYSE:V) Q4 of $2.97 sees a dip from $2.98 in Q3 and an increase from $2.71 in last year’s Q4. Revenue consensus of $10.6B compares with $10.2B in the previous quarter and $9.62B a year ago.
Analysts also expect Visa’s (V) total payment volume to grow to $3.70T from $3.62T in Q3, according to the Visible Alpha consensus.
Visa (V) earnings have topped the average analyst estimate in each of the past 12 quarters and revenue has beat in 11 of the past 12 quarters, only missing by 0.29% in Q3 2024.
Mastercard (MA) is expected to deliver Q3 adjusted EPS of $4.31, up from $4.15 in Q2 and $3.89 in last year’s Q3. The revenue consensus estimate of $8.53B, anticipates an increase from $8.13B in the prior quarter and $7.37B in the year-ago period.
The Visible Alpha consensus expects Mastercard Q3 gross dollar volume to reach $2.75T from $2.63B in Q2 2025.
Mastercard (MA) has an excellent track record for beating the consensus on quarterly earnings and revenue, beating the average analyst estimates in each of the last 12 quarters.
In Monday afternoon trading, Visa (V) stock rose 0.2% and Mastercard (MA) stock slipped 0.3%.