Mastercard’s payment volumes and services growth lift quarterly profit

Mastercard ($MA) generated third-quarter 2026 net revenue of $9.8 billion, up 14% both as reported and at constant exchange rates. Net income reached $4.6 billion, with diluted earnings of $5.28 per share, up 22%. Adjusted EPS increased 21% to $5.31. Spending across its network remained supportive: gross dollar volume rose 7% in local currencies, cross-border volumes increased 11%, and switched transactions grew 9%.

Value-added services and solutions revenue increased 19%, outpacing the payment network’s 11% growth. Operating expenses rose 11%, while rebates and incentives increased 18%, illustrating the costs associated with expanding activity and maintaining customer relationships. Even so, the GAAP operating margin improved to 59.8% from 58.8%. The reported profit also includes a $74 million litigation charge that is excluded from the adjusted comparison.

Sources:

• SEC filing
• Issuer release or filing via StockTitan