Mastercard 8-K
PositiveEarnings
Demand and pricing lifted value-added services revenue 19% Y/Y, while cross-border volume grew 11% Y/Y.
Filed 2026-10-29 08:04 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results: Mastercard reported net revenue of $9.8B, up 14% Y/Y, and diluted EPS of $5.28. Growth came from both its payment network and value-added services and solutions, with cross-border volume up 11% and value-added services and solutions revenue up 19%.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Net revenue | $9.81B, +14% Y/Y | $27.5B, +15% Y/Y |
| Operating income | $5.86B, +16% Y/Y | $16.4B, +17% Y/Y |
| Operating margin | 59.8%, vs 58.8% | 59.5%, vs 58.3% |
| Adjusted operating margin, non-GAAP | 60.5%, vs 59.8% | 60.8%, vs 59.7% |
| Net income | $4.63B, +18% Y/Y | $12.9B, +18% Y/Y |
| Adjusted net income, non-GAAP | $4.65B, +17% Y/Y | $13.2B, +19% Y/Y |
| Diluted EPS | $5.28, +22% Y/Y | $14.59, +22% Y/Y |
| Adjusted diluted EPS, non-GAAP | $5.31, +21% Y/Y | $14.94, +22% Y/Y |
| Operating cash flow | — | $11.9B, vs $12.6B |
- Payment network revenue grew 11%; Q3 gross dollar volume was $3.0T, up 7% on a local-currency basis, while purchase volume rose 9%, cross-border volume 11% and switched transactions 9%. Value-added services and solutions revenue increased 19%, driven by demand across several services and pricing; payment network rebates and incentives rose 18%.
- Operating expenses increased 11% to $3.9B, primarily from higher general and administrative expenses. The GAAP effective tax rate fell to 19.4% from 21.5%, reflecting higher net discrete tax benefits and other tax impacts.
- Mastercard repurchased 5.3M shares for $3.0B and paid $763M in dividends during Q3; diluted weighted-average shares were 876M, vs 905M a year earlier. Through 10/26/2026, it repurchased another 1.1M shares for $0.6B, with $4.9B remaining under approved programs. Customers had issued 3.8B Mastercard- and Maestro-branded cards as of 9/30/2026.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch payment network volume growth, particularly cross-border volume, and value-added services and solutions revenue growth in subsequent quarters; sustained growth would support the drivers of Q3 revenue gains.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-29 14:37:44Z