MA · 10-Q · 2026Q1 · Full report
Revenue Performance and Mix
Mastercard Inc · 2026-04-30 · Importance 54 · Surprise 40 · From source text
Net revenue was $8,398 million for the three months ended March 31, 2026, up 16% year-over-year (from $7,250 million), or up 12% on a currency‑neutral basis. Payment network revenue was $4,948 million, up 12% year-over-year (8% currency‑neutral), driven by domestic and cross‑border dollar volume growth and more switched transactions. Value‑added services and solutions revenue was $3,450 million, up 22% year‑over‑year (18% currency‑neutral), driven by security, digital/authentication, market insights and pricing. Rebates and incentives included in the payment network were $5,639 million, up 23% year‑over‑year (19% currency‑neutral), primarily due to higher key drivers and new/renewed deals.
Key facts
- Adjusted net income for the three months ended March 31, 2026: $4,103 million, versus $3,406 million in the comparable period in 2025 (20% increase). source
- Diluted earnings per share for the three months ended March 31, 2026: $4.35 versus $3.59 in the comparable period in 2025 (21% increase). source
- Adjusted diluted earnings per share for the three months ended March 31, 2026: $4.60 versus $3.73 in the comparable period in 2025 (23% increase). source
- Three months ended March 31, 2026 GAAP net revenue: $8,398 million, versus $7,250 million in the comparable period in 2025 (16% increase). source
- Net revenue from payment network for the three months ended March 31, 2026: $4,948 million, up 12% versus prior year. source
- GAAP operating income for the three months ended March 31, 2026: $4,907 million, versus $4,149 million in the comparable period in 2025 (18% increase). source
- GAAP net income for the three months ended March 31, 2026: $3,882 million, versus $3,280 million in the comparable period in 2025 (18% increase). source
- Cross-border assessments for the three months ended March 31, 2026: $3,190 million, up 23% as reported and up 18% currency-neutral versus comparable period in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +13.7% | Three months ended March 31, 2026 GAAP net revenue: $8,398 million, versus $7,250 million in the comparable period in 2025 (16% increase). |
| operating_income | positive | realized | +9.0% | GAAP operating income for the three months ended March 31, 2026: $4,907 million, versus $4,149 million in the comparable period in 2025… |
| net_income | positive | realized | +8.3% | Adjusted net income for the three months ended March 31, 2026: $4,103 million, versus $3,406 million in the comparable period in 2025 (20%… |
| revenue | positive | realized | +8.3% | Transaction processing assessments for the three months ended March 31, 2026: $4,224 million, up 20% as reported and up 15%… |
| net_income | positive | realized | +7.2% | GAAP net income for the three months ended March 31, 2026: $3,882 million, versus $3,280 million in the comparable period in 2025 (18%… |
| revenue | positive | realized | +7.1% | Cross-border assessments for the three months ended March 31, 2026: $3,190 million, up 23% as reported and up 18% currency-neutral versus… |