MA · 10-Q · 2026Q3 · Full report
Operating Expense Trends
Mastercard Inc · 2026-10-29 · Importance 54 · Surprise 40 · In source text
Operating expenses increased 11% to $3.945 billion in the third quarter and 11% to $11.126 billion in the first nine months of 2026; adjusted expenses increased 12% and 11%, respectively. General and administrative expense rose 13% to $3.293 billion for the quarter and 15% to $9.414 billion for the nine months, driven by personnel, data processing, strategic-initiative investment and customer marketing fulfillment costs. Nine-month G&A growth included a 2-percentage-point contribution from the $202 million restructuring charge, as well as balance-sheet remeasurement losses primarily from unfavorable foreign exchange activity. Depreciation and amortization increased 12% for the quarter and 10% for the nine months, primarily due to higher capitalized software amortization and, for the quarter, higher equipment depreciation.
Key facts
- Mastercard’s nine-month 2026 operating expenses were $11,126 million, up 11% from $9,998 million in the comparable 2025 period. source
- Mastercard’s general and administrative expenses increased 15% as reported and 14% currency-neutral for the nine months ended September 30, 2026, including a 2-percentage-point increase from a $202 million restructuring charge. source
- Mastercard’s third-quarter 2026 operating expenses were $3,945 million, up 11% from $3,541 million in the comparable 2025 period. source
- Mastercard’s third-quarter 2026 adjusted operating expenses increased 12% on both an as-reported and currency-neutral basis. source
- Mastercard’s nine-month 2026 adjusted operating expenses increased 11% as reported and 10% currency-neutral. source
- Mastercard’s general and administrative expenses increased 13% in the third quarter of 2026, primarily due to higher personnel and data-processing costs supporting strategic initiatives and fulfillment costs for customer marketing services. source
- Mastercard’s third-quarter 2026 depreciation and amortization expense increased 12% as reported and 13% currency-neutral, primarily due to higher capitalized software amortization and equipment depreciation. source
- Mastercard’s nine-month 2026 depreciation and amortization expense increased 10% on both an as-reported and currency-neutral basis, primarily due to higher capitalized software amortization. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | — | Mastercard’s general and administrative expenses increased 15% as reported and 14% currency-neutral for the nine months ended September… |