Mastercard's Expenses Are on the Rise: A Threat to Profit Margins?

Key Takeaways MA's adjusted operating expenses jumped 13% in Q1, driven by advertising and admin costs. Despite higher costs, MA's adjusted operating margin rose to 59.3% from 58.8% year over year. MA expects mid-teens expense growth in 2025, along with low-teens growth in net revenues.Mastercard Incorporated (MA) exited the first quarter with a sharp rise in costs. Its adjusted operating expenses rose 13% year over year to $3 billion in the first quarter, on the heels of 10.5% and 11.0% increases in 2023 ...