Mastercard Inc

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

MA$655.81+0.5%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations —

PART I

Consolidated Statements of Operations (Unaudited)
	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
(in millions, except per share data)
Net Revenue	$8,602	$7,369	$23,985	$20,678
Operating Expenses:
General and administrative	2,923	2,744	8,212	7,448
Advertising and marketing	245	220	610	520
Depreciation and amortization	290	225	846	666
Provision for litigation	83	176	330	400
Total operating expenses	3,541	3,365	9,998	9,034
Operating income	5,061	4,004	13,987	11,644
Other Income (Expense):
Investment income	81	76	239	231
Gains (losses) on equity investments, net	41	(62)	16	(69)
Interest expense	(186)	(159)	(563)	(462)
Other income (expense), net	2	7	23	19
Total other income (expense)	(62)	(138)	(285)	(281)
Income before income taxes	4,999	3,866	13,702	11,363
Income tax expense	1,072	603	2,794	1,831
Net Income	$3,927	$3,263	$10,908	$9,532
Basic Earnings per Share	$4.35	$3.54	$12.02	$10.27
Basic weighted-average shares outstanding	903	923	908	928
Diluted Earnings per Share	$4.34	$3.53	$12.00	$10.25
Diluted weighted-average shares outstanding	905	925	909	930

6 MASTERCARD SEPTEMBER 30, 2025 FORM 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.