万事达卡Mastercard（MA）2025年第三季度业绩报告「NYSE」（英文版）（15页）.pdf

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1、Earnings ReleaseMastercard Incorporated Reports Third Quarter 2025 Financial Results Third quarter net income of$3.9 billion,and diluted earnings per share(EPS)of$4.34 Third quarter adjusted net income of$4.0 billion,and adjusted diluted EPS of$4.38Third quarter net revenue of$8.6 billion,an increas

2、e of 17%,or 15%on a currency-neutral basisThird quarter gross dollar volume up 9%and purchase volume up 10%,on a local currency basisPurchase,NY-October30,2025-Mastercard Incorporated(NYSE:MA)today announced financial results for the third quarter 2025.“Mastercard delivered another strong quarter,wi

3、th net revenue growth of 17%year-over-year,or 15%on a currency-neutral basis,driven by healthy consumer and business spending and continued robust performance of our differentiated services,”said Michael Miebach,Mastercard CEO.“This quarter,these value-added services and solutions delivered net reve

4、nue growth of 25%year-over-year,or 22%on a currency-neutral basis.We launched the Mastercard Commerce Media network,new cyber threat intelligence solutions for payments and expanded agentic commerce capabilities,all industry-shaping innovations aimed at driving customer value and unlocking new buyin

5、g centers.”Quarterly ResultsThird Quarter Operating ResultsIncrease/(Decrease)$in billions,except per share dataQ3 2025Q3 2024Reported GAAPCurrency-neutralNet revenue$8.6$7.417%15%Operating expenses$3.5$3.45%4%Operating income$5.1$4.026%23%Operating margin58.8%54.3%4.5 ppt4.1 pptEffective income tax

6、 rate21.5%15.6%5.9 ppt5.3 pptNet income$3.9$3.320%18%Diluted EPS$4.34$3.5323%20%Key Third Quarter Non-GAAP Results 1Increase/(Decrease)$in billions,except per share dataQ3 2025Q3 2024As adjustedCurrency-neutralNet revenue$8.6$7.417%15%Adjusted operating expenses$3.5$3.015%14%Adjusted operating margi