Mastercard's Quarterly Results Beat Expectations

Global payments network Mastercard reported third-quarter financial results that beat analysts' forecasts. The company's adjusted earnings per share came in at $5.31, while revenue reached $9.8 billion, compared with analyst expectations of $5.17 and $9.66 billion, respectively. Following the release of the results, Mastercard's shares rose by 2.7%.

The company's revenue grew by 14% year-over-year, from $8.6 billion to $9.8 billion. The growth was driven by both the core payments network and the value-added services and solutions segment. Payment network revenue increased by 11% year-over-year, while revenue from value-added services grew by 19%.

According to Mastercard CEO Michael Miebach, the company delivered a strong quarter. He noted that growth in Mastercard's cardholder base, global scale, and innovation form an important foundation for the business's development.

The company's key operating metrics also showed growth. Gross dollar volume, measured in local currencies, grew by 7%, reaching $3 trillion. Cross-border volume increased by 11%, while the number of transactions processed through the network grew by 9%.

As of September 30, 2026, customers held 3.8 billion cards issued under the Mastercard and Maestro brands.

During the same period, adjusted operating expenses rose by 12%, reaching $3.9 billion. Approximately one percentage point of the increase was attributable to company acquisitions and divestitures. Despite the rise in expenses, the adjusted operating margin expanded from 59.8% in the prior year to 60.5%.

Mastercard's adjusted net income came to $4.7 billion, a 17% increase compared with $4 billion in the third quarter of 2025. In addition, the adjusted effective tax rate declined from 21.4% to 20.1%, reflecting a higher one-time tax benefit.