OpenNashEarnings

Payments · NYSE: MA

Mastercard earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 28 Jan 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Mastercard reported third quarter net revenue of $9.8 billion, an increase of 14%, net income of $4.6 billion, and diluted earnings per share (EPS) of $5.28.

Mastercard grew third quarter net revenue 14% to $9.8 billion. Net income rose to $4.6 billion, or $5.28 per diluted share. Payment network revenue grew 11% on higher spending, and value-added services grew 19%. Gross dollar volume rose 7% and cross-border volume rose 11%. The company bought back $3.0 billion of stock in the quarter. The CFO said some services projects and deals moved into Q3 from Q4.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗

Quarters

KPI history

Revenue$9.8B+14.0% y/yQ3 2026
Q4 2024: $7.5B (worked out from the annual figure)Q4 ’24$7.5BQ1 2025: $7.2BQ1 ’25$7.2BQ2 2025: $8.1BQ2 ’25$8.1BQ3 2025: $8.6BQ3 ’25$8.6BQ4 2025: $8.8B (worked out from the annual figure)Q4 ’25$8.8BQ1 2026: $8.4BQ1 ’26$8.4BQ2 2026: $9.3BQ2 ’26$9.3BQ3 2026: $9.8BQ3 ’26$9.8B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$7.5B *
Q1 2025$7.2B
Q2 2025$8.1B
Q3 2025$8.6B
Q4 2025$8.8B *
Q1 2026$8.4B
Q2 2026$9.3B
Q3 2026$9.8B
Diluted EPS (GAAP)$5.28+21.7% y/yQ3 2026
Q1 2025: $3.59Q1 ’25$3.59Q2 2025: $4.07Q2 ’25$4.07Q3 2025: $4.34Q3 ’25$4.34Q1 2026: $4.35Q1 ’26$4.35Q2 2026: $4.97Q2 ’26$4.97Q3 2026: $5.28Q3 ’26$5.28
Data
Q1 2025$3.59
Q2 2025$4.07
Q3 2025$4.34
Q1 2026$4.35
Q2 2026$4.97
Q3 2026$5.28

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin59.8%+1.0 pts y/yQ3 2026
Q4 2024: 52.6%Q4 ’2452.6%Q1 2025: 57.2%Q1 ’2557.2%Q2 2025: 58.7%Q2 ’2558.7%Q3 2025: 58.8%Q3 ’2558.8%Q4 2025: 55.8%Q4 ’2555.8%Q1 2026: 58.4%Q1 ’2658.4%Q2 2026: 60.2%Q2 ’2660.2%Q3 2026: 59.8%Q3 ’2659.8%
Data
Q4 202452.6%
Q1 202557.2%
Q2 202558.7%
Q3 202558.8%
Q4 202555.8%
Q1 202658.4%
Q2 202660.2%
Q3 202659.8%
Free cash flow$4.9B−11.3% y/yQ3 2026
Q4 2024: $4.7BQ4 ’24$4.7BQ1 2025: $2.2BQ1 ’25$2.2BQ2 2025: $4.6BQ2 ’25$4.6BQ3 2025: $5.5BQ3 ’25$5.5BQ4 2025: $4.9BQ4 ’25$4.9BQ1 2026: $2.8BQ1 ’26$2.8BQ2 2026: $3.5BQ2 ’26$3.5BQ3 2026: $4.9BQ3 ’26$4.9B
Data
Q4 2024$4.7B
Q1 2025$2.2B
Q2 2025$4.6B
Q3 2025$5.5B
Q4 2025$4.9B
Q1 2026$2.8B
Q2 2026$3.5B
Q3 2026$4.9B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$7.5Bd$7.2B$8.1B$8.6B$8.8Bd$8.4B$9.3B$9.8B
Operating income$3.9Bd$4.1B$4.8B$5.1B$4.9Bd$4.9B$5.6B$5.9B
Operating margin52.6%57.2%58.7%58.8%55.8%58.4%60.2%59.8%
Net income$3.3Bd$3.3B$3.7B$3.9B$4.1Bd$3.9B$4.4B$4.6B
Diluted EPS—$3.59$4.07$4.34—$4.35$4.97$5.28
Operating cash flow$4.8Bd$2.4B$4.6Bd$5.7Bd$5.0Bd$3.0B$3.8Bd$5.1Bd
Capital expenditure$95.0Md$159.0M$40.0Md$178.0Md$112.0Md$154.0M$291.0Md$222.0Md
Free cash flow$4.7B$2.2B$4.6B$5.5B$4.9B$2.8B$3.5B$4.9B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings