Mastercard reported a strong third quarter with robust net revenue growth driven by healthy consumer spending and its value-added services. The company highlighted new innovation in commerce media and cyber intelligence.
Net revenue increased 17% year-over-year (15% on a currency-neutral basis) to $8.6 billion.
positiveValue-added services and solutions net revenue grew 25% (22% currency-neutral).
positiveGross dollar volume increased 9% and purchase volume increased 10% on a local currency basis.
positiveCross-border volume grew 15% on a local currency basis.
positiveDiluted EPS increased 23% to $4.34 (20% currency-neutral).
positiveOperating margin expanded 450 basis points to 58.8% (410 basis points currency-neutral).
positiveThe effective income tax rate increased significantly to 21.5% from 15.6% in the prior year, primarily due to the global minimum tax (Pillar 2 Rules).
attentionPayment network rebates and incentives increased 15% (currency-neutral), impacting net revenue growth from the payment network.
attentionAdjusted operating expenses increased 15% (14% currency-neutral), driven by higher general and administrative expenses and acquisitions.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Mastercard delivered another strong quarter with net revenue growth of 17% year-over-year, or 15% on a currency-neutral basis, driven by healthy consumer and business spending and continued robust performance of our differentiated services.
Value-added services and solutions delivered net revenue growth of 25% year-over-year, or 22% on a currency-neutral basis.
Launched the Mastercard Commerce Media network, new cyber threat intelligence solutions for payments and expanded agentic commerce capabilities.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.