← Who reports today · Financials
MA · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
A strong quarter as 14% net revenue growth—led by value-added services and solutions up 20% plus resilient payment network volumes—drove operating income up 17% and net income up 19% to $4.4B, even as rising G&A costs and interest expense modestly offset margin gains.
Net Income
$4,388M
up 18.6% y/y
Net Revenue
$9,277M
up 14.1% y/y
Operating Income
$5,587M
up 17.0% y/y
Operating Expenses
$3,690M
up 10% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Payment Network | ≈$5,715 · +10% |
| Value-Added Services & Solutions | ≈$3,562 · +20% |
| Net Revenue | $9,277 · +14.1% |
| Operating Expenses | $3,690 · +10% |
| Operating Income | $5,587 · +17.0% · 60.2% margin |
| Other Income (Expense), net | -$101 |
| Pre-Tax Income | $5,486 · +17.4% |
| Income Tax | $1,098 · +13.1% |
| Net Income | $4,388 · +18.6% · Diluted EPS $4.97 |
Verdict: a strong quarter as 14% net revenue growth—led by value-added services and solutions up 20% plus resilient payment network volumes—drove operating income up 17% and net income up 19% to $4.4B, even as rising G&A costs and interest expense modestly offset margin gains.
OCF $6,772M (6M) · Q2 buybacks $4.9B (9.8M shares) · dividends paid $771M in Q2 · $7.8B remaining under repurchase authorization.
Source and notation
* marks non-cash / ≈ estimated. Source: Mastercard Incorporated press release / 10-Q (SEC EDGAR).
Open as an image: MA, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Cite / embed this chart
Free to use in articles, research and social posts with credit to Who Reports Today and a link — licensed under CC BY 4.0 (terms).
Chart: “MA Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/ma/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/ma/q2-2026"><img src="https://whoreportstoday.com/t/ma/q2-2026/sankey.png" alt="MA Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/ma/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/ma/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/ma/q2-2026">MA Q2 2026 earnings chart (Who Reports Today)</a>
This is an archived report: the image at this link won’t change. If you change the chart (crop, translate), say so in the credit. Company logos and trademarks are not covered by the license.
- GAAP operating expenses include $82M of special items (legal/litigation provisions); adjusted opex excludes these, lifting adjusted operating margin to 61.1% vs 60.2% GAAP.
- Value-added services and solutions net revenue grew 20% (18% currency-neutral), outpacing payment network revenue growth of 10% (8% currency-neutral).
- Payment network rebates and incentives rose 22% y/y, a net drag embedded within payment network revenue growth.
- Other income (expense) was a $101M net expense, roughly flat vs $105M prior year; includes a small $2M pre-tax loss on equity investments (non-cash, volatile).
- Effective tax rate fell to 20.0% from 20.8% on discrete tax benefits, boosting net income growth (19%) slightly above operating income growth (17%).
- Segment revenue split (payment network vs. value-added services) is disclosed only as growth rates, not exact dollar figures; dollar splits below are derived proportionally from stated 2025 base and growth rates.
What distorts the picture in this report and what to watch beyond the headlines.
MA — Mastercard is a global payments technology company that facilitates electronic transactions between consumers, merchants, and financial institutions.
It is headquartered in Purchase, New York, and operates in over 200 countries.
More reports: MCO · Q3 2026 · MET · Q2 2026 · MRSH · Q3 2026 · MS · Q3 2026 · MSCI · Q3 2026 · MTB · Q3 2026 · NDAQ · Q3 2026 · NTRS · Q3 2026 · PFG · Q2 2026 · PGR · Q3 2026 · all reports