Jun 2026 (Q2 FY26) — Jul 30, 2026
Mastercard Q2 FY26 — Strong Performance Driven by VAS and Cross-Border Recovery
Read the full callMastercard (MA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Mastercard earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 9,277 | +14.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 60.2 | +1.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
16 of 17 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Net revenue growth (Q2 FY26) | low end of low double digits range, currency-neutral, excluding inorganic activity | Mar 2026 | Net revenues were above our expectations, up 12%. | Achieved |
| Full-year net revenue growth (FY26) | high end of a low double-digit range, currency-neutral, excluding inorganic activity | Dec 2025 | we expect net revenue growth to be at the high end of low double digits range on a currency-neutral basis, excluding inorganic activity. Although this is the same range we shared previously, we now expect to be higher within the range than our prior expectations, largely due to our stronger first half performance. | Revised Up |
| BVNK acquisition closing (Q3 FY26) | expected to close this quarter | Jun 2026 | We expect to close the BVK acquisition this quarter. | New |
1 of Mastercard Inc's 48 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 45 more targets are in the full ledger.
Claimed
- Net revenues were up 12% year-over-year on a non-GAAP currency-neutral basis.
- Adjusted net income increased 16% year-over-year on a non-GAAP currency-neutral basis.
- Value-added services net revenue grew 18% year-over-year on a non-GAAP currency-neutral basis.
- Cross-border volume increased 12% globally for the quarter.
- Switched transactions grew 9% year-over-year in Q2.
Qualified
- Geopolitical uncertainty and its potential economic impacts continue to be monitored.
- Impacts from the Middle East conflict, while moderating, are expected to remain at similar levels to late Q2 for the rest of the year.
Price
$616.4 −0.17% · −$1.02
Performance +9.9% 1Y
1Y: $560.97 on 17 Oct 2025 → $616.4. High $617.42 (16 Oct 2026), low $471.55 (3 Jun 2026).
- Previous close
- $617.42
- 52-week range
- $471.55 – $617.42
- One year
- +8.84%
Overview
- Symbol
- MA
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
16 of 17 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Net revenue growth (Q2 FY26) | low end of low double digits range, currency-neutral, excluding inorganic activity | Mar 2026 | Net revenues were above our expectations, up 12%. | Achieved |
| Full-year net revenue growth (FY26) | high end of a low double-digit range, currency-neutral, excluding inorganic activity | Dec 2025 | we expect net revenue growth to be at the high end of low double digits range on a currency-neutral basis, excluding inorganic activity. Although this is the same range we shared previously, we now expect to be higher within the range than our prior expectations, largely due to our stronger first half performance. | Revised Up |
| BVNK acquisition closing (Q3 FY26) | expected to close this quarter | Jun 2026 | We expect to close the BVK acquisition this quarter. | New |
Claimed
- Net revenues were up 12% year-over-year on a non-GAAP currency-neutral basis.
- Adjusted net income increased 16% year-over-year on a non-GAAP currency-neutral basis.
- Value-added services net revenue grew 18% year-over-year on a non-GAAP currency-neutral basis.
- Cross-border volume increased 12% globally for the quarter.
- Switched transactions grew 9% year-over-year in Q2.
Qualified
- Geopolitical uncertainty and its potential economic impacts continue to be monitored.
- Impacts from the Middle East conflict, while moderating, are expected to remain at similar levels to late Q2 for the rest of the year.
The full ledger
Open Mastercard Inc’s full ledger
A free account opens 5 company ledgers a month. All 48 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
Mastercard Q1 FY26 — Strong Start with Diversified Growth and Strategic Innovation
Read the full callDec 2025 (Q4 FY25) — Jan 29, 2026
Mastercard Q4 FY25 — Strong Performance Driven by Services and Strategic Wins
Read the full callEvery analysed call
Mastercard earnings calls (MA)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,369 | 7,489 | 7,250 | 8,133 | 8,602 | 8,806 | 8,398 | 9,277 |
| Operating profit | 4,004 | 3,938 | 4,149 | 4,777 | 5,061 | 4,910 | 4,907 | 5,587 |
| Operating margin | 54.3% | 52.6% | 57.2% | 58.7% | 58.8% | 55.8% | 58.4% | 60.2% |
| Other income | -138 | -47 | -118 | -105 | -62 | -34 | -95 | -101 |
| Interest | 159 | 184 | 182 | 195 | 186 | 159 | 185 | 218 |
| Profit before tax | 3,866 | 3,891 | 4,031 | 4,672 | 4,999 | 4,876 | 4,812 | 5,486 |
| Tax rate | 15.6% | 14.1% | 18.6% | 20.8% | 21.4% | 16.7% | 19.3% | 20.0% |
| EPS ($ per share) | 3.54 | — | 3.60 | 4.08 | 4.35 | — | 4.35 | 4.98 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 27,283 | 33,984 | 38,747 | 45,648 | 53,607 | 62,564 | 72,907 | 85,035 |
| Total liabilities | 19,371 | 23,245 | 27,067 | 30,257 | 32,347 | 35,451 | 41,566 | 46,411 |
| Fixed assets | 921 | 1,828 | 1,902 | 1,907 | 2,006 | 2,061 | 2,138 | 2,303 |
| Total assets | 24,860 | 29,236 | 33,584 | 37,669 | 38,724 | 42,448 | 48,081 | 54,157 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 6,223 | 8,183 | 7,224 | 9,463 | 11,195 | 11,980 | 14,780 | 17,648 |
| Cash from investing | -506 | -1,640 | -1,879 | -5,272 | -1,470 | -1,351 | -3,402 | -1,362 |
| Cash from financing | -4,966 | -5,867 | -2,152 | -6,555 | -10,328 | -9,488 | -10,836 | -14,179 |
| Net cash flow | 745 | 632 | 3,450 | -2,517 | -706 | 1,269 | 343 | 2,440 |
| Capital expenditure | -330 | -422 | -339 | -407 | -442 | -371 | -474 | -489 |
| Free cash flow | 5,893 | 7,761 | 6,885 | 9,056 | 10,753 | 11,609 | 14,306 | 17,159 |
MA revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Payment Solutions | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +14.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MA operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Cards | 3.5BGlobally, there are 3.5 billion Mastercard and Maestro-branded cards issued.Source: earnings call transcript | 3.5BGlobally, there are 3.5 billion Mastercard and Maestro-branded cards issued.Source: earnings call transcript | 3.6BGlobally, there are 3.6 billion Mastercard and Maestro-branded cards issued.Source: earnings call transcript | 3.7BGlobally, there are 3.7 billion Mastercard and Maestro-branded cards issued.Source: earnings call transcript | 3.7BGlobally, there are 3.7 billion Mastercard and Maestro-branded cards issued.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- International Markets 57%
- North America 43%
As MA cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
153 filings between Oct 31, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$67.05M
73 sales by 8 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 36
- Award — granted as compensation
- 10
- Option exercise — converted options into shares
- 29
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Miebach Michael | — | $27.92M | Aug 5, 2026 |
| McLaughlin Edward Grunde | — | $18.08M | Jul 15, 2026 |
| SACHIN J. MEHRA | — | $8.49M | Sep 2, 2026 |
| Ling Hai | — | $4.48M | Feb 24, 2026 |
| Kirkpatrick Linda Pistecchia | — | $3.66M | Aug 31, 2026 |
| Seshadri Raj | — | $3.58M | Jul 2, 2026 |
| GENACHOWSKI JULIUS | — | $435.4K | Oct 12, 2026 |
| Arkell Sandra A | — | $401.8K | Jul 15, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | GENACHOWSKI JULIUS Director | Sale 10b5-1 plan | 370 | $218.4K |
| Oct 9, 2026 | GENACHOWSKI JULIUS Director | Sale 10b5-1 plan | 370 | $216.4K |
| Oct 9, 2026 | GENACHOWSKI JULIUS Director | Sale 10b5-1 plan | 1 | $590 |
| Oct 1, 2026 | McLaughlin Edward Grunde President & CTO, MA Tech | Tax withheld | 99 | $54.6K |
| Oct 1, 2026 | Miebach Michael President & CEO | Tax withheld | 530 | $292.4K |
| Oct 1, 2026 | Ling Hai Chief Financial Officer | Tax withheld | 88 | $48.5K |
| Oct 1, 2026 | Huntsman Jon M Jr V Chair & Pres Strategic Grwth | Tax withheld | 178 | $98.2K |
| Oct 1, 2026 | SACHIN J. MEHRA Chief Business Officer | Tax withheld | 207 | $114.2K |
| Sep 2, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 3,266 | $1.91M |
| Aug 31, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 923 | $547.8K |
| Aug 20, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 1,000 | $572.1K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 628 | $362.9K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 1,280 | $738.3K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Option exercise 10b5-1 plan | 7,444 | $2.56M |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 966 | $554.5K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 160 | $93.2K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 1,168 | $672.5K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 840 | $488.5K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 732 | $424.8K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 1,150 | $660.9K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 120 | $68.7K |
| Aug 19, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 400 | $231.7K |
| Aug 17, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 1,191 | $673.2K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 240 | $136.6K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 200 | $115.3K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 880 | $502.0K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 80 | $46.2K |
| Aug 5, 2026 | Miebach Michael President & CEO | Sale 10b5-1 plan | 15,372 | $8.84M |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 440 | $252.5K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 280 | $160.4K |
| Aug 5, 2026 | SACHIN J. MEHRA Chief Business Officer | Sale 10b5-1 plan | 880 | $502.8K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 880 | $503.4K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 1,680 | $959.7K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 400 | $228.0K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 360 | $204.9K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 200 | $113.6K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 600 | $340.0K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Option exercise 10b5-1 plan | 4,280 | $742.5K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 120 | $68.7K |
| Aug 4, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Sale 10b5-1 plan | 40 | $22.6K |
| Aug 3, 2026 | Kirkpatrick Linda Pistecchia Chief Services Officer | Award 10b5-1 plan | 1,771 | $0 |
| Aug 3, 2026 | Ling Hai Chief Financial Officer | Award | 2,657 | $0 |
| Aug 3, 2026 | Dosis Dimitrios Chief Commercial Pmts Officer | Award | 2,303 | $0 |
| Aug 3, 2026 | Miebach Michael President & CEO | Sale 10b5-1 plan | 16,628 | $9.64M |
| Aug 3, 2026 | Miebach Michael President & CEO | Option exercise 10b5-1 plan | 9,772 | $2.22M |
| Jul 31, 2026 | Miebach Michael President & CEO | Sale 10b5-1 plan | 16,628 | $9.44M |
| Jul 31, 2026 | Miebach Michael President & CEO | Option exercise 10b5-1 plan | 16,628 | $3.78M |
| Jul 15, 2026 | McLaughlin Edward Grunde President & CTO, MA Tech | Sale 10b5-1 plan | 1,089 | $586.8K |
| Jul 15, 2026 | McLaughlin Edward Grunde President & CTO, MA Tech | Sale 10b5-1 plan | 3,431 | $1.85M |
| Jul 15, 2026 | McLaughlin Edward Grunde President & CTO, MA Tech | Sale 10b5-1 plan | 2,510 | $1.35M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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