MA · 10-Q · 2026Q1 · Full report

Gains and Losses on Equity Investments

Mastercard Inc · 2026-04-30 · Importance 53 · Surprise 82

The company recorded net losses on equity investments of $66 million in the quarter versus $29 million in the prior-year quarter, driven primarily by unrealized fair market value adjustments on marketable and nonmarketable equity securities. The increase in mark-to-market losses (a >10% year-over-year change) reduced other income (expense) and was excluded from non-GAAP results. After-tax impact was $63 million ($0.07 per diluted share). These investment valuation swings are volatile and have a noticeable effect on GAAP net income versus adjusted results.