AI Earnings Predictions for Mastercard Incorporated (MA)

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Earnings Release

Mastercard Incorporated Reports Third Quarter 2026 Financial Results

•Third quarter net income of $4.6 billion, and diluted earnings per share (EPS) of $5.28

•Third quarter adjusted net income of $4.7 billion, and adjusted diluted EPS of $5.31

•Third quarter net revenue of $9.8 billion, an increase of 14%, as reported and on a currency-neutral basis

•Third quarter gross dollar volume up 7% and purchase volume up 9%, on a local currency basis

Purchase, NY - October 29, 2026 - Mastercard Incorporated (NYSE: MA) today announced financial results for the third quarter 2026.

“Another strong quarter for Mastercard, delivering net revenue growth of 14%. More Mastercard credentials in more hands give us a powerful foundation, backed by our global reach and innovation. From advancing Agentic Commerce to our new Global Money Platform through BVNK, we’re shaping how people pay, manage and exchange across currencies. We’re not waiting for the future of commerce. We’re building it.” said Michael Miebach, Mastercard CEO.

Quarterly Results

Third Quarter Operating Results Increase / (Decrease)

$ in billions, except per share data Q3 2026Q3 2025Reported GAAPCurrency-neutral

Net revenue$9.8$8.614%14%

Operating expenses$3.9$3.511%12%

Operating income$5.9$5.116%16%

Operating margin59.8%58.8%0.9 ppt0.9 ppt

Effective income tax rate19.4%21.5%(2.1) ppt(2.1) ppt

Net income$4.6$3.918%18%

Diluted EPS$5.28$4.3422%22%

Key Third Quarter Non-GAAP Results 1

Increase / (Decrease)

$ in billions, except per share data Q3 2026Q3 2025As adjustedCurrency-neutral

Net revenue$9.8$8.614%14%

Adjusted operating expenses$3.9$3.512%12%

Adjusted operating margin60.5%59.8%0.7 ppt0.7 ppt

Adjusted effective income tax rate20.1%21.4%(1.4) ppt(1.4) ppt

Adjusted net income$4.7$4.017%18%

Adjusted diluted EPS$5.31$4.3821%21%

1 The Key Third Quarter Non-GAAP Results exclude the impact of gains and losses on the company’s equity investments, special items as described on page 11 (“Third Quarter Special Items”) and/or the translational and transactional impact of currency and the related impact of the company’s foreign exchange derivative contracts designated as cash flow hedging instruments (specifically those that manage the impact of foreign currency variability on anticipated revenues and expenses). See page 11 for the company’s non-GAAP adjustments and the reconciliation to GAAP reported amounts.

Q3 2026 Key Business Drivers (YoY growth)

Gross dollar volume

Cross-border volume

Switched transactions

(local currency basis)(local currency basis)

up 7%

up 11%

up 9%

The following information is provided to aid in understanding Mastercard’s third quarter 2026 results, versus the year ago period.

•Net revenue increased 14%, as reported and on a currency-neutral basis versus the comparable period in 2025. The increase was attributable to growth in our payment network and value-added services and solutions.

▪Payment network net revenue increased 11%, as reported and on a currency-neutral basis. Primary drivers of the increase were as follows:

•Gross dollar volume growth of 7% on a local currency basis to $3.0 trillion.

•Cross-border volume growth of 11% on a local currency basis.

•Switched transactions growth of 9%.

•Pricing

This increase in payment network net revenue includes growth in payment network rebates and incentives provided to customers. Payment network rebates and incentives increased 18%, as reported and on a currency-neutral basis, primarily due to an increase in our key drivers, as well as new and renewed deals.

▪Value-added services and solutions net revenue increased 19%, as reported and on a currency-neutral basis. The growth was driven primarily by our underlying key drivers, strong demand across several of our services, and pricing. This includes a minimal decrease from acquisitions and dispositions.

•Total operating expenses increased 11% as compared to the same period in 2025, primarily due to higher general and administrative expenses. Excluding the impact of Third Quarter Special Items, adjusted operating expenses increased 12%, as reported and on a currency-neutral basis. This includes a 1 percentage point increase from acquisitions and dispositions. The remaining increase was primarily due to higher general and administrative expenses.

•Other income (expense) was unfavorable by $59 million versus the year ago period, primarily due to interest expense on debt outstanding and a net loss in the current year versus a net gain in the prior year on our equity investments, partially offset by government grant agreements. Excluding the impact of net gains and losses on our equity investments, adjusted other income (expense) was unfavorable by $12 million primarily due to interest expense on debt outstanding, partially offset by government grant agreements.

•The effective tax rate for the third quarter of 2026 was 19.4%, versus

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Earnings Release

Mastercard Incorporated Reports Second Quarter 2026 Financial Results

•Second quarter net income of $4.4 billion, and diluted earnings per share (EPS) of $4.97

•Second quarter adjusted net income of $4.5 billion, and adjusted diluted EPS of $5.04

•Second quarter net revenue of $9.3 billion, an increase of 14%, or 12% on a currency-neutral basis

•Second quarter gross dollar volume up 8% and purchase volume up 10%, on a local currency basis

Purchase, NY - July 30, 2026 - Mastercard Incorporated (NYSE: MA) today announced financial results for the second quarter 2026.

“We delivered above expectations with net revenue growth at 14% year-over-year, or 12% on a currency-neutral basis in the second quarter. These results reflect our role in powering more ways to shop, pay and do business. From new partnerships in Mexico and the UAE to our market-first Agentic Payment capability, we’re unlocking opportunities unique to Mastercard and shaping what’s next in commerce.” said Michael Miebach, Mastercard CEO.

Quarterly Results

Second Quarter Operating Results Increase / (Decrease)

$ in billions, except per share data Q2 2026Q2 2025Reported GAAPCurrency-neutral

Net revenue$9.3$8.114%12%

Operating expenses$3.7$3.410%9%

Operating income$5.6$4.817%14%

Operating margin60.2%58.7%1.5 ppt1.1 ppt

Effective income tax rate20.0%20.8%(0.8) ppt(0.9) ppt

Net income$4.4$3.719%16%

Diluted EPS$4.97$4.0722%19%

Key Second Quarter Non-GAAP Results 1

Increase / (Decrease)

$ in billions, except per share data Q2 2026Q2 2025As adjustedCurrency-neutral

Net revenue$9.3$8.114%12%

Adjusted operating expenses$3.6$3.311%10%

Adjusted operating margin61.1%59.9%1.2 ppt0.8 ppt

Adjusted effective income tax rate20.0%20.9%(0.8) ppt(0.9) ppt

Adjusted net income$4.5$3.818%16%

Adjusted diluted EPS$5.04$4.1521%19%

1 The Key Second Quarter Non-GAAP Results exclude the impact of gains and losses on the company’s equity investments, special items as described on page 11 (“Second Quarter Special Items”) and/or the translational and transactional impact of currency and the related impact of the company’s foreign exchange derivative contracts designated as cash flow hedging instruments (specifically those that manage the impact of foreign currency variability on anticipated revenues and expenses). See page 11 for the company’s non-GAAP adjustments and the reconciliation to GAAP reported amounts.

Q2 2026 Key Business Drivers (YoY growth)

Gross dollar volume

Cross-border volume

Switched transactions

(local currency basis)(local currency basis)

up 8%

up 12%

up 9%

The following information is provided to aid in understanding Mastercard’s second quarter 2026 results, versus the year ago period.

•Net revenue increased 14%, or 12% on a currency-neutral basis versus the comparable period in 2025. The increase was attributable to growth in our payment network and value-added services and solutions.

▪Payment network net revenue increased 10%, or 8% on a currency-neutral basis. Primary drivers of the increase were as follows:

•Gross dollar volume growth of 8% on a local currency basis to $2.9 trillion.

•Cross-border volume growth of 12% on a local currency basis.

•Switched transactions growth of 9%.

This increase in payment network net revenue includes growth in payment network rebates and incentives provided to customers. Payment network rebates and incentives increased 22%, or 20% on a currency-neutral basis, primarily due to an increase in our key drivers, as well as new and renewed deals.

▪Value-added services and solutions net revenue increased 20%, or 18% on a currency-neutral basis. The growth was driven primarily by our underlying key drivers, security solutions, consumer acquisition and engagement services, digital and authentication solutions and business and market insights and pricing. This includes a minimal decrease from acquisitions and dispositions.

•Total operating expenses increased 10% as compared to the same period in 2025, primarily due to higher general and administrative expenses. Excluding the impact of Second Quarter Special Items, adjusted operating expenses increased 11%, or 10% on a currency-neutral basis. This includes a 1 percentage point benefit from acquisitions and dispositions. The remaining increase was primarily due to higher general and administrative expenses.

•Other income (expense) was favorable by $4 million versus the year ago period. Excluding the impact of net gains and losses on our equity investments, adjusted other income (expense) was favorable by $9 million.

•The effective tax rate for the second quarter of 2026 was 20.0%, versus 20.8% for the comparable period in 2025. The adjusted effective tax rate for the second quarter of 2026 was 20.0%, versus 20.9% for the comparable period in 2025. Both as-reported and as-adjusted income tax rates were lower versus the comparable period in 2025 due to partially offs

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