万事达卡Mastercard（MA）2025年第四季度及全年业绩报告「NYSE」（英文版）（15页）.pdf

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1、Earnings ReleaseMastercard Incorporated Reports Fourth Quarter and Full Year 2025 Financial Results Fourth quarter net income of$4.1 billion,and diluted earnings per share(EPS)of$4.52 Fourth quarter adjusted net income of$4.3 billion,and adjusted diluted EPS of$4.76Fourth quarter net revenue of$8.8

2、billion,an increase of 18%,or 15%on a currency-neutral basisFourth quarter gross dollar volume up 7%and purchase volume up 9%,on a local currency basisPurchase,NY-January29,2026-Mastercard Incorporated(NYSE:MA)today announced financial results for the fourth quarter and full year 2025.“2025 was anot

3、her strong year for Mastercard,with net revenue up 16%year-over-year or 15%on a currency-neutral basis.Were executing and winning with programs like the Apple Card and robust growth in value-added services and solutions at 23%,or 21%currency-neutral.The overall macroeconomic environment is supportiv

4、e and we continue to see healthy consumer and business spending.That,together with trusted technology,constant innovation,and deep partnerships,powers our performance.Focused,agile,and diversified,were well positioned for the opportunities ahead in 2026.”Michael Miebach,CEOQuarterly ResultsFourth Qu

5、arter Operating ResultsIncrease/(Decrease)$in billions,except per share dataQ4 2025Q4 2024Reported GAAPCurrency-neutralNet revenue$8.8$7.518%15%Operating expenses$3.9$3.610%7%Operating income$4.9$3.925%21%Operating margin55.8%52.6%3.2 ppt2.9 pptEffective income tax rate16.7%14.1%2.6 ppt2.8 pptNet in

6、come$4.1$3.322%17%Diluted EPS$4.52$3.6424%20%Key Fourth Quarter Non-GAAP Results 1Increase/(Decrease)$in billions,except per share dataQ4 2025Q4 2024As adjustedCurrency-neutralNet revenue$8.8$7.518%15%Adjusted operating expenses$3.7$3.314%12%Adjusted operating margin57.7%56.3%1.4 ppt1.0 pptAdjusted