Fiscal Third Quarter 2025 Financial Results July 29, 2025 ©2025 Visa. All rights reserved. Fiscal Third Quarter 2025 Results | YoY increase / (decrease) except for Effective Income Tax Rate | Net Revenue | Operating Expenses | Effective Income Tax Rate | Diluted Class A Common Stock Earnings Per Share | | --- | --- | --- | --- | --- | | GAAP Nominal-Dollar Basis | 14% | 35% | 16.7% | 12% | | Non-GAAP Nominal-Dollar Basis(1) | 14% | 13% | 17.3% | 23% | | Foreign Currency Impact(2) | ~0% | ~0.5% | N/A | ~0% | ...