Mastercard reported strong first-quarter results with significant revenue and adjusted EPS growth, driven by robust performance in its payment network and value-added services. The company highlighted advancements in agentic commerce and strategic acquisitions, positioning itself for future digital payments growth.
Net revenue increased 16% year-over-year to $8.4 billion, or 12% on a currency-neutral basis.
positiveAdjusted diluted EPS grew 23% year-over-year to $4.60.
positiveValue-added services and solutions net revenue increased 22% (18% currency-neutral).
positiveGross dollar volume increased 7% and cross-border volume increased 13% on a local currency basis.
positiveTotal operating expenses increased 13% year-over-year, primarily due to a restructuring charge of $202 million in Q1 2026.
attentionThe effective tax rate increased to 19.3% from 18.6% in the prior year period, primarily due to lower net discrete tax benefits.
attentionPrepaid expenses increased significantly by $2,061 million in Q1 2026 compared to Q1 2025, impacting operating cash flow.
attentionAccrued litigation and legal settlements increased by $461 million in Q1 2026 compared to Q1 2025, impacting operating cash flow.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
APMEA | N/A | — | — | — |
Canada | N/A | — | — | — |
Europe | N/A | — | — | — |
Latin America | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
APMEA | N/A | — | — | — |
Canada | N/A | — | — | — |
Europe | N/A | — | — | — |
Latin America | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
Worldwide less United States | N/A | — | — | — |
United States | N/A | — | — | — |
Worldwide | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| net_revenue_growth | low end of low double digits | Q2 2026 | directional | New |
| operating_expenses_growth | low end of low double digits | Q2 2026 | directional | New |
| net_revenue_growth | high end of a low double digits range | FY2026 | directional | New |
| operating_expenses_growth | low double digits range | FY2026 | directional | New |
| tax_rate | 20-21% | Q2 2026 | tight_range | New |
| tax_rate | 20-21% | FY2026 | tight_range | New |
This quarter
second quarter · funded by cash balances
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Mastercard is diversified, future-ready, and delivering.
Advancing agentic commerce with Mastercard Agent Pay.
Expanding our stablecoin solutions through the planned acquisition of BVNK.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.