MA · 10-Q · 2026Q1 · Full report

Operating Expense Trends

Mastercard Inc · 2026-04-30 · Importance 68 · Surprise 58 · No source text

Total GAAP operating expenses were $3,491 million for the three months ended March 31, 2026, up 13% versus $3,101 million a year earlier; adjusted operating expenses were $3,289 million, up 11% (9% currency‑neutral). The as‑reported increase was primarily due to higher general and administrative expenses, which included a $202 million restructuring charge in Q1 2026, partially offset by lower litigation provisions. Adjusted expense growth was driven mainly by higher general and administrative costs including personnel, data processing and balance sheet remeasurement losses. Depreciation and amortization increased 9%, primarily from higher capitalized software amortization tied to the business’ continued growth.

Key facts

• GAAP operating expenses for the three months ended March 31, 2026: $3,491 million, versus $3,101 million in the comparable period in 2025 (13% increase). source
• Adjusted operating expenses for the three months ended March 31, 2026: $3,289 million, versus $2,950 million in the comparable period in 2025 (11% increase). source
• Depreciation and amortization expenses increased 9% for the three months ended March 31, 2026 versus the comparable period in 2025 (6% on a currency-neutral basis), primarily due to higher capitalized software amortization. source

Impact estimates