MA · 10-Q · 2026Q1

Mastercard Inc

Filed 2026-04-30 · Other · View original filing on EDGAR

Ranked Events

• Rebates and Incentives LevelsImportance 79 · Surprise 66
  Net revenue from the payment network included $5,639 million of rebates and incentives provided to customers, which increased 23% (19% currency-neutral) year-over-year. Mastercard attributes the increase primarily to…
• Products and TechnologyImportance 73 · Surprise 66
  Net revenue from value-added services and solutions increased 22% (18% currency-neutral) year-over-year, driven by security solutions, digital and authentication solutions, business and market insights, and consumer…
• General and Administrative ExpensesImportance 73 · Surprise 66
  General and administrative expense was $3,039 million in Q1 2026, up 20% year‑over‑year from $2,523 million (17% currency‑neutral), representing a $516 million increase. The increase included an $202 million…
• Litigation and Legal RiskImportance 71 · Surprise 82
  Mastercard recorded litigation-related special-item charges of $151 million ($102 million after tax, or $0.11 per diluted share) in the three months ended March 31, 2025, primarily from a change in estimate related to…
• Liquidity and Cash PositionImportance 71 · Surprise 48
  As of March 31, 2026 Mastercard had $8.2 billion of cash, cash equivalents and investments (down from $10.9 billion at December 31, 2025) and generated $3.0 billion of net cash from operating activities in Q1 2026. The…
• Operating Expense TrendsImportance 68 · Surprise 58
  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).…
• Capital Return ProgramImportance 64 · Surprise 42
  Mastercard repurchased 7.8 million shares of Class A common stock for $4.035 billion in the three months ended March 31, 2026 (average price $519.67) and paid $0.8 billion of dividends in the period. In December 2025…
• Market Demand TrendsImportance 59 · Surprise 48
  Gross Dollar Volume (GDV) on a U.S. dollar-converted basis grew 12% year-over-year for the quarter while GDV on a local currency basis grew 7%, reflecting materially higher card spend. Cross-border volume rose even…
• Provision for LitigationImportance 59 · Surprise 82
  There were no litigation charges recorded in the three months ended March 31, 2026, compared with $151 million of litigation charges recorded in the three months ended March 31, 2025 related to merchant opt-out claims…
• Operating Cash Flow TrendsImportance 59 · Surprise 48
  Net cash provided by operating activities was $2,999 million in Q1 2026 versus $2,380 million in Q1 2025, an increase of $619 million primarily due to higher net income after adjusting for non‑cash items, partially…
• Outstanding IndebtednessImportance 56 · Surprise 24
  Total debt outstanding was $19.0 billion at both March 31, 2026 and December 31, 2025, with the earliest scheduled maturity being $750 million in November 2026. Mastercard maintains a Commercial Paper Program…
• FX / Currency HeadwindsImportance 54 · Surprise 40
  Mastercard reports meaningful foreign exchange impacts across revenues, expenses and key metrics: GDV grew 12% on a U.S. dollar-converted basis versus 7% on a local currency basis for the three months ended March 31,…
• Gross Margin DriversImportance 54 · Surprise 40
  Operating margin was 58.4% for the three months ended March 31, 2026, up 1.2 percentage points versus 57.2% a year earlier; adjusted operating margin was 60.8%, up 1.5 percentage points. Operating income was $4,907…
• Revenue Performance and MixImportance 54 · Surprise 40
  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%…
• Gains and Losses on Equity InvestmentsImportance 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…
• Other income (expense) - Equity Investment LossesImportance 53 · Surprise 82
  Mastercard recorded net losses on equity investments of $66 million in Q1 2026 ($63 million after tax, $0.07 per diluted share) versus net losses of $29 million in Q1 2025 ($25 million after tax, $0.03 per diluted…
• Restructuring Charge / Strategic InitiativeImportance 46 · Surprise 42
  Mastercard recorded a restructuring charge of $202 million ($158 million after tax, or $0.18 per diluted share) in Q1 2026 as a Special Item. The company says the savings from the restructuring are primarily intended…
• Headcount / RestructuringImportance 46 · Surprise 42
  In the three months ended March 31, 2026, Mastercard recorded a restructuring charge of $202 million ($158 million after tax), equal to $0.18 per diluted share. The restructuring charge was recorded in general and…
• Geographic Revenue ShiftImportance 36 · Surprise 40
  GDV growth was concentrated outside the U.S.: the United States posted GDV growth of 4% while Worldwide less United States grew 15% (USD basis). Cross-border growth and international spend were significant contributors…
• Income Tax Rate ChangesImportance 25 · Surprise 32
  The GAAP effective income tax rate was 19.3% for Q1 2026 versus 18.6% in Q1 2025, an increase of 0.7 percentage points primarily due to lower net discrete tax benefits in 2026. The adjusted effective income tax rate…

Revenue by Product (in millions)

Revenue by Geography (in millions)