Visa reported better-than-expected results and double-digit growth in transactions on Tuesday as it closed out a record year for revenue and profits.

The digital payments company is expanding beyond credit cards to other markets, other partnerships and other sources of revenue, including initiatives to support agentic AI commerce, cryptocurrency, and fraud detection.

Payments volume grew 9% during the quarter, with total cross-border volumes up 14%, and processed transactions up 10%.

For its fiscal fourth quarter ended Sept. 30, Visa reported net revenue of $12.1 billion, up 13% and better than the $12.09 billion Wall Street expected.

Adjusted earnings of $3.48 per share, up 17%, beat the $3.44 per share analysts expected, according to FactSet.

Visa shares were down 1.8% in after-hours trading, after closing down 0.6%, at $401.86, in regular trading.

Full fiscal-year results also exceeded projections, as net revenue of $45.9 billion, up 15%, beat analysts' estimates for $45.87 billion. Adjusted earnings of $13.27 per share, up 16%, surpassed the $13.23 per share expected.

Full-year payments volume grew 9%, total cross-border transactions grew 13%, and processed transactions increased 9%.

"Visa delivered a milestone year," with record net revenue of $46 billion, up 15% and the strongest growth in over 15 years, excluding the postpandemic recovery and acquisitions, CEO Ryan McInerney said. "In 2026, we also demonstrated that whenever technology changes commerce, we move with it, we anticipate what's next, and we enable its growth as the leading hyperscaler of payments globally."

Jonathan King, an analyst at Third Bridge research firm, said that artificial intelligence and stablecoins are seen as long-term opportunities that build on Visa's strengths.

"Its network, security infrastructure, and relationships with financial institutions position Visa well as AI agents begin making purchases on consumers' behalf," he said.

One expert told King that "Whoever controls the payment credential controls the transaction, and that matters even more when an agent is doing the buying."

Visa's stock is up 14.6% this year through Tuesday's close and up 15.8% over the past 12 months.

Fiscal fourth quarter service revenue grew 14% to $5.3 billion; data processing revenue rose 16% to $6.2 billion; international transaction revenue grew 8% to $4.1 billion; and other revenue grew 40% to $1.6 billion. Client incentives increased 21% to $5.1 billion.

Among other highlights, Visa on Aug. 3 announced that it had signed a definitive agreement to acquire BioCatch, a leading provider of behavioral-first, multi-signal fraud intelligence, for $2.4 billion in cash. Pending regulatory approval and other conditions, the deal is expected to close by the end of the second quarter of fiscal 2027.

The digital payments giant facilitates transactions between consumers, sellers, financial institutions, and government entities across more than 200 countries and territories.

Visa earlier this month announced that it had received preliminary approval from China's central bank to prepare setting up a domestic bank card clearing network inside the country of 1.4 billion people. Visa said the move would allow it to foster local partnerships, secure legal compliance, and develop the software needed to process bank card clearing in China. Mastercard and American Express have already established local clearing partnerships in China.

Visa, before releasing its fiscal third-quarter earnings in July, announced that it was slashing roughly 7% of its workforce, or 2,600 jobs, largely across its technology and product teams, as part of a streamlining effort.

That afternoon, it reported net revenue of $11.6 billion, up 14% from a year ago, and adjusted earnings of $3.32 a share, a gain of 11%. Both were above the $11.4 billion in revenue and adjusted earnings of $3.23 a share expected.

For the first quarter of fiscal 2027, Visa guided for net revenue growth in the low double digits. It also expects operating expense growth in the low double digits and diluted earnings per share growth in the low end of midteens.

For the full fiscal ending in September 2027, Visa expects net revenue growth in the low double digits. It projects operating expense growth in the low double digits, and diluted EPS growth in the low double-digit to low teens.