MA · 10-Q · 2026Q3 · Full report

Operating Income and Margins

Mastercard Inc · 2026-10-29 · Importance 54 · Surprise 40 · No source text

For the three months ended September 30, 2026, operating income increased 16% to $5.862 billion and operating margin rose 0.9 percentage points to 59.8%. For the nine months, operating income increased 17% to $16.356 billion and operating margin improved 1.2 percentage points to 59.5%. Adjusted operating margin increased 0.7 percentage points to 60.5% for the quarter and 1.1 percentage points to 60.8% for the nine months. Revenue growth outpaced operating expense growth, with net revenue up 14% for the quarter and 15% for the nine months against operating expense growth of 11% in both periods.

Key facts

• Mastercard’s third-quarter 2026 operating income was $5,862 million, up 16% from $5,061 million in the comparable 2025 period. source
• Mastercard’s nine-month 2026 operating income was $16,356 million, up 17% from $13,987 million in the comparable 2025 period. source
• Mastercard’s third-quarter 2026 operating margin was 59.8%, up 0.9 percentage points from 58.8% in the comparable 2025 period. source
• Mastercard’s nine-month 2026 operating margin was 59.5%, up 1.2 percentage points from 58.3% in the comparable 2025 period. source
• Mastercard’s nine-month 2026 adjusted operating margin was 60.8%, up 1.1 percentage points as reported and 0.8 percentage points currency-neutral. source

Impact estimates