Financial Data and Key Metrics Changes - For Q4 2025, net revenues increased by 15%, with value-added services and solutions net revenue up 22% on a non-GAAP currency-neutral basis [4][22] - Operating income rose by 17%, while net income and EPS increased by 17% and 20% respectively, with EPS at $4.76, including a $0.10 contribution from share repurchases [23][24] - Worldwide gross dollar volume (GDV) grew by 7% year-over-year, with U.S. GDV increasing by 4% and international volume rising by 9% [24][25] Business Line Data and Key Metrics Changes - Payment network net revenue increased by 9%, driven by domestic and cross-border transaction growth, while value-added services and solutions net revenue increased by 22% [25][26] - Commercial credit and debit volumes represented 13% of total GDV, growing at 11% year-over-year on a local currency basis [14] - The company secured over 60 new affluent programs globally in 2025, indicating strong performance in affluent segments [7][8] Market Data and Key Metrics Changes - Cross-border volume increased by 14% globally, reflecting growth in both travel and non-travel-related spending [24] - Contactless penetration reached 77% of all in-person switched purchase transactions, up 5 percentage points from the previous year [25] - The company reported a 10% year-over-year growth in switch transactions for Q4 [25][26] Company Strategy and Development Direction - The company is focused on executing its clear strategy, benefiting from a diversified business model across geographies and payment adjacencies [5][6] - Recent strategic reviews will lead to reductions in some areas but increased investment in others, indicating a commitment to innovation and agility [5][6] - The company is actively engaging in emerging opportunities such as stablecoins and agentic commerce, positioning itself as a leader in the evolving payments landscape [10][11] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the fundamentals of the business despite geopolitical and macroeconomic uncertainties [5][30] - The company expects net revenues to grow at the high end of a low double digits range on a currency-neutral basis for 2026, with a tailwind from foreign exchange [30][32] - The macroeconomic environment is supportive, with balanced job markets underpinning healthy consumer and business spending [30] Other Important Information - The company secured various multi-year government grants that will benefit operating expenses and other income, with an expected operating expense benefit of around 5.5 percentage points [23] - A one-time restructuring charge of approximately $200 million is expected in Q1 2026, impacting about 4% of full-time employees globally [33] Q&A Session Summary Question: Details on the Capital One renegotiation - Management expressed excitement about the extension of the credit portfolio agreement with Capital One, emphasizing the value of the Mastercard network [35][36] Question: Implications of the CCCA - Management noted that there is a united opposition to the proposed Credit Card Competition Act, highlighting concerns about consumer choice and cybersecurity risks [37][39] Question: Health of the consumer - Management indicated that consumer spending remains healthy, with savvy consumers utilizing loyalty programs effectively [44][46] Question: Sensitivity to FX volatility - Management acknowledged the challenges in predicting FX volatility but emphasized the company's ability to deliver value through currency conversion services [48][49] Question: Future growth of value-added services - Management expressed confidence in the continued growth of value-added services, driven by the interconnectedness with the payment network [50][51]

Mastercard (NYSE:MA) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Company ParticipantsDevin Corr - Head of Investor RelationsMichael Miebach - CEOOperatorGood morning. My name is Julie Ann, and I will be your conference operator today. At this time, I would like to welcome everyone to the Mastercard Incorporated Q4 and full year 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers are marked, there will be a question-and-answer session. ...

Financial Data and Key Metrics Changes - For Q4 2025, net revenues increased by 15% overall, with value-added services and solutions net revenue up 22% on a non-GAAP currency-neutral basis [4][24] - Operating income rose by 17%, while net income and EPS increased by 17% and 20% respectively, driven by strong operating income growth and a positive discrete tax item [24] - Worldwide gross dollar volume (GDV) increased by 7% year-over-year, with U.S. GDV up 4% and international volume up 9% [25][26] Business Line Data and Key Metrics Changes - Payment network net revenue increased by 9%, driven by domestic and cross-border transaction growth, while value-added services and solutions net revenue increased by 22% [26][28] - Commercial credit and debit volumes represented 13% of total GDV, growing at 11% year-over-year on a local currency basis [14] - Transaction processing assessments were up 14%, while switch transactions grew by 10% [28][29] Market Data and Key Metrics Changes - Cross-border volume increased by 14% globally, reflecting growth in both travel and non-travel-related spending [25] - Contactless penetration stood at 77% of all in-person switched purchase transactions, up 5 percentage points from the previous year [26] - Card growth was 6%, with 3.7 billion Mastercard and Maestro branded cards issued globally [26] Company Strategy and Development Direction - The company is focused on executing its clear strategy, making strong progress against strategic pillars, and benefiting from a diversified business model [4][5] - A strategic review will lead to reductions in some areas but will also result in increased investment and focus in others [5] - The company is actively engaging in emerging opportunities such as stablecoins and agentic commerce, positioning itself as a leader in the payments evolution [11][12] Management's Comments on Operating Environment and Future Outlook - Despite geopolitical and macroeconomic uncertainties, the company remains optimistic about its execution and business fundamentals [5][32] - The macroeconomic environment is supportive, with balanced job markets underpinning healthy consumer and business spending [32] - For 2026, the company expects net revenues to grow at the high end of a low double digits range on a currency-neutral basis, with a tailwind from foreign exchange [32][33] Other Important Information - The company secured various new multi-year government grants that will benefit operating expenses and other income [24] - A one-time restructuring charge of approximately $200 million is expected in Q1, impacting about 4% of full-time employees globally [35] - The company continues to innovate, launching new services such as Mastercard Credit Intelligence and Mastercard Agent Suite [21][22] Q&A Session Questions and Answers Question: Details on the Capital One renegotiation - The company is excited about extending its credit portfolio agreement with Capital One, emphasizing the value of the Mastercard network [37][38] Question: Implications of the CCCA - The company views the CCCA as a potential risk to consumer choice and cybersecurity, with a united industry opposition to the proposed bill [39][40][41] Question: Health of the consumer - Consumer spending remains healthy, with savvy consumers utilizing loyalty programs and data to make informed spending decisions [46][48] Question: Sensitivity to FX rate moves - The company acknowledges the difficulty in predicting FX volatility but emphasizes its ability to deliver value to customers regardless of market conditions [50][51] Question: VAS growth trends - The company is encouraged by the growth in value-added services, which are closely linked to the performance of the payment network [52][53][56]

Mastercard has completed a review of its business that will impact about 4% of its full-time employees, the payment processor's CFO, Sachin Mehra, said on Thursday. ...

Core Insights - Mastercard has demonstrated a strong performance at the beginning of the year, which counters concerns regarding a slowdown in consumer spending [1] Company Summary - The analyst highlights that Mastercard's early-year results are robust, indicating resilience in consumer spending patterns despite broader economic fears [1]

Group 1 - Major reports are expected from Mastercard Incorporated, Caterpillar Inc., and SAP SE before the market opens on Thursday [1] - Tech companies Apple Inc. and Visa Inc. will report their earnings after the market closes on Thursday [1] - Energy companies Exxon Mobil Corporation and Chevron Corporation are set to report before the market opens on Friday [1] Group 2 - A busy day for healthcare reporting is anticipated next Wednesday, with Eli Lilly and Company, AbbVie Inc., Novartis AG, and Novo Nordisk A/S scheduled to release their earnings [1] - Alphabet Inc. will report its earnings after the market closes on the same day [1] - The week will conclude with Amazon.com Inc. reporting after the market closes next Thursday [1]

格隆汇1月29日｜万事达卡公布第四季度业绩，收入同比增长17.6%至88.1亿美元，超过分析师预期的 87.7亿美元；净利润同比增长21.6%至40.6亿美元，调整后每股收益为4.76美元，亦超过分析师预期的 4.24美元。期内，持续的消费支出推动总交易额增长7%。 ...

Mastercard Incorporated Fourth Quarter and Full Year 2025 Financial Results Conference Call January 29, 2026 Business Update Business Highlights Financial Overview January 29, 2026 2 ©2026 Mastercard Michael Miebach: FINAL ©2026 Mastercard Thanks, Michael. Turning to page 3, which shows our financial performance for the fourth quarter on a currency-neutral basis, excluding, where applicable, special items and the impact of gains and losses on our equity investments. • Net Revenue was up 15%, reflecting cont ...

万事达卡公司(MA.US)第四季度盈利表现超出市场预期，这得益于消费者在复杂宏观环境下对其支付网 络的持续依赖。 根据周四发布的财报，这家总部位于纽约州帕切斯的支付巨头2025年最后三个月实现净营收88.1亿美 元，略高于分析师预期的87.8亿美元。公司调整后净利润达43亿美元(合每股4.76美元)，显著高于分析 师此前预估的38.3亿美元(合每股4.25美元)。 本月早些时候，美国总统特朗普提议将信用卡利率上限设定为10%，为期一年，此举曾对万事达卡及其 竞争对手股价形成压力。虽然利率上限可能不直接影响万事达卡盈利，但若银行因此收缩信贷投放导致 消费者信贷渠道收窄，可能间接影响消费支出。特朗普近期已敦促国会推进该提案。 万事达卡的支付网络竞争对手维萨公司定于周四盘后公布业绩。去年11月，两家支付巨头曾尝试以约 2000亿美元规模和解与商户之间围绕刷卡手续费的长期法律纠纷，但目前尚不确定该方案能否彻底解决 问题。 截至发稿，万事达卡股价盘前上涨2.23%。该股在过去12个月累计下跌5%。 公司全年营收总额近330亿美元，同比增长16%，此前公司在去年10月曾预测2025年净营收增速将位 于"中高双位数区间的高 ...

Core Insights - Mastercard reported an increase in fourth-quarter profit and sales, indicating strong performance in the financial sector [1] - The company noted that both consumer and business spending remained healthy, suggesting a positive economic environment [1] Financial Performance - The fourth-quarter profit and sales figures were higher compared to previous periods, reflecting robust growth [1] Consumer and Business Spending - Mastercard highlighted that spending patterns among consumers and businesses are strong, which may contribute to continued growth in the financial services industry [1]