Mastercard(MA) - 2025 Q4 - Annual Results

Earnings Release | Fourth Quarter Operating Results | | | Increase / (Decrease) | | | --- | --- | --- | --- | --- | | $ in billions, except per share data | | | Reported | Currency | | | Q4 2025 | Q4 2024 | GAAP | neutral | | Net revenue | $8.8 | $7.5 | 18% | 15% | | Operating expenses | $3.9 | $3.6 | 10% | 7% | | Operating income | $4.9 | $3.9 | 25% | 21% | | Operating margin | 55.8% | 52.6% | 3.2 ppt | 2.9 ppt | | Effective income tax rate | 16.7% | 14.1% | 2.6 ppt | 2.8 ppt | | Net income | $4.1 | $3.3 | ...