Mastercard 8-K

PositiveEarningsRestructuring

Value-added services outpaced payment network growth; restructuring to support long-term growth reinvestment raised expenses.

Filed 2026-04-30 08:03 ET

Summary

Q1 2026 results. Mastercard’s revenue increased 16% Y/Y (12% currency-neutral), driven by growth in its payment network and value-added services and solutions. A $202M pre-tax restructuring charge contributed to higher operating expenses.

Key Figures

Metric Q1 2026 Q1 2025 Y/Y
Net revenue $8.4B $7.25B 16%
Operating income $4.91B $4.15B 18%
Operating margin 58.4% 57.2% +120 bp
Adjusted operating margin (non-GAAP) 60.8% 59.3% +150 bp
Net income $3.88B $3.28B 18%
Adjusted net income (non-GAAP) $4.1B $3.41B 20%
Diluted EPS $4.35 $3.59 21%
Adjusted diluted EPS (non-GAAP) $4.60 $3.73 23%
Operating cash flow $3.0B $2.38B 26%
  • Payment network revenue grew 12% (8% currency-neutral); value-added services and solutions grew 22% (18% currency-neutral). Worldwide gross dollar volume reached $2.70T, up 7% locally; purchase volume rose 9%, cross-border volume 13%, and switched transactions 9%.
  • Operating expenses increased 13%; adjusted expenses rose 11% (9% currency-neutral). The $202M pre-tax restructuring charge was intended to support reinvestment in long-term growth opportunities.
  • Mastercard repurchased 7.8M shares for $4.0B and paid $777M in dividends. Class A shares outstanding were 880M at 3/31/2026 vs 887M at 12/31/2025; cash and cash equivalents were $7.91B vs $10.6B. Through 4/27, it repurchased 3.3M shares for $1.7B, with $11.7B remaining under approved repurchase programs.

Guidance

No guidance in this filing.

Investor Takeaways

  • Next-quarter revenue and payment-volume growth will show whether Q1 network and services momentum is sustained.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

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