Mastercard Incorporated (MA) Earnings
Mastercard Incorporated is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $4.76. MA has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +5.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $4.41 | $4.60 | +4.3% | $8.4B | +1.7% |
| Jan 29, 2026 | $4.24 | $4.76 | +12.3% | $8.8B | +0.4% |
| Oct 30, 2025 | $4.32 | $4.38 | +1.4% | $8.6B | +0.8% |
| Jul 31, 2025 | $4.03 | $4.15 | +3.0% | $8.1B | +2.6% |
| May 1, 2025 | $3.58 | $3.73 | +4.2% | $7.3B | +1.7% |
| Jan 30, 2025 | $3.71 | $3.82 | +3.0% | $7.5B | +1.4% |
| Oct 31, 2024 | $3.74 | $3.89 | +4.0% | $7.4B | +1.4% |
| Jul 31, 2024 | $3.51 | $3.59 | +2.3% | $7.0B | +1.6% |
| May 1, 2024 | $3.24 | $3.31 | +2.2% | $6.3B | +0.2% |
| Jan 31, 2024 | $3.08 | $3.18 | +3.2% | $6.5B | +9.9% |
| Oct 26, 2023 | $3.21 | $3.39 | +5.6% | $6.5B | +0.2% |
| Jul 27, 2023 | $2.82 | $2.89 | +2.5% | $6.3B | +12.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Good morning, everyone, and thank you for joining us for our first quarter 2026 earnings call. Building on 2025 momentum, 26 is off to an excellent start. Looking at the macro picture, the economic foundation remains generally supportive with healthy underlying consumer and business spending. We have built and diversified our network over decades with four pillars: unparalleled global reach, franchise rules, best-in-class technology, and differentiated value-added services and solutions. On recent key innovations, Agentic Commerce ecosystem evolves with partnerships and launches like Verifiable Intent. On stablecoins, we leverage existing card rails and plan acquisition of BVNK. For consumer payments, there are portfolio wins and momentum in affluent phase. For commercial and new payment flows, we deliver value by building on strengths like fleet and distribution. For value-add services and solutions, demand remains high with growth in VAS including AI model and partnerships.
Guidance
For Q2 2026, year-over-year net revenue growth is expected to be at the low end of low double digits range on a currency neutral basis, excluding inorganic activity. Operating expense growth expected at low end of low double digits range. Full year 2026 net revenue growth remains at high end of low double digits range. Operating expense growth expected at low double digits range. Non-GAAP tax rate in range of 20 to 21% for Q2 and full year.
Segment performance
Net revenue was up 12% and net income up 15% in the first quarter on a year-over-year non-GAAP currency neutral basis. Payment network net revenue increased 8%, primarily driven by domestic and cross-border transaction and volume growth. Value-added services and solutions net revenue increased 18%, primarily driven by growth in underlying drivers, strong demand across security solutions, digital and authentication, business and market insights, and consumer acquisition and engagement, and pricing.
Risks & headwinds
Geopolitical tensions, especially in the Middle East, have put pressure on cross-border travel. Complexity grows with digital assets scaling, need for interoperable infrastructure.
Analyst Q&A
Q: Will Nance from Goldman Sachs asked about VAS strategy.
A: Michael responded on consumer and business choice in payments, evolution of multi-rail proposition, focus on cybersecurity and markets.
Q: Sanjay Sakrani from KBW asked about war outlook and portfolio shifts.
A: Michael responded on base case of war ending in Q2, impact on cross-border, offsets and portfolio shift impact.
Q: Harshita Rawat from Bernstein asked about switch transaction growth and VAS.
A: Sachin responded on switch transaction growth adjusted for Capital One migration, mix impact, and VAS growth.
Q: Adam Frisch from Evercore ISI asked about war impact and stablecoin.
A: Sachin responded on base case war impact, and BVNK acquisition and Clarity Act.
Q: Tingen Wong from JP Morgan asked about Agentic side.
A: Michael responded on Agentic commerce early stage, partners, and use cases.
Q: Darren Peller from Wolf Research asked about cross-border normalization and threat intelligence.
A: Sachin responded on cross-border factors and threat intelligence growth.
Q: Andrew Schmidt from KeyBank asked about deal competitiveness and rebates.
A: Michael responded on deal competitiveness and Sachin responded on rebates.
Q: Matthew O'Neill from Bank of America asked about stablecoin economics.
A: Sachin responded on stablecoin growth opportunity and acquisition economics.
Q: Brian Bergen from TD Cowan asked about yields.
A: Sachin responded on pricing contemplated in guidance.
Q: Jason Kupferberg from Wells Fargo asked about acceptance categories and VAS growth.
A: Michael responded on acceptance categories and Sachin responded on VAS growth without acquisition impact