Mastercard reports second quarter 2026 net revenue of $9.3 billion, up 14%

Mastercard reported its financial results for the second quarter of 2026 on July 30, 2026. Net revenue was $9.3 billion, up 14%, or 12% on a currency-neutral basis, from $8.1 billion a year earlier. Net income was $4.4 billion, compared with $3.7 billion, and diluted earnings per share were $4.97 on a GAAP basis, compared with $4.07.

On an adjusted basis, net income was $4.5 billion and diluted EPS was $5.04, compared with $3.8 billion and $4.15 in the second quarter of 2025. Operating income was $5.6 billion, up 17%, and the operating margin was 60.2%.

Payment network net revenue rose 10%, and value-added services and solutions net revenue rose 20%. Gross dollar volume rose 8% on a local currency basis to $2.9 trillion, cross-border volume rose 12%, and switched transactions rose 9%.

Operating expenses rose 10% to $3.7 billion, primarily due to higher general and administrative expenses. The effective income tax rate was 20.0%, compared with 20.8% a year earlier. For the year to date, net revenue was $17.7 billion, up 15%, and net income was $8.3 billion, up 18%.

In the second quarter, Mastercard repurchased 9.8 million shares at a cost of $4.9 billion and paid $771 million in dividends. Quarter to date through July 27, the company repurchased 1.3 million shares at a cost of $0.7 billion, leaving $7.8 billion remaining under approved share repurchase programs.