Filing Flows › Mastercard (MA) › Q2 2026 › vs Q2 2025
Mastercard (MA) Q2 2026 vs Q2 2025 (year over year)
Mastercard's revenue rose $1.1B (+14%) from $8.1B in Q2 2025 to $9.3B in Q2 2026. The biggest changes: Value-added services and solutions +$638M (+20%); Payment network +$506M (+10%). Operating margin 60.2% against 58.7% (+1.5 pts).
Mastercard, Q2 2026: revenue $9.3B (+14% year over year), operating margin 60.2%, net earnings $4.4B, operating cash flow $3.8B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 60.2% | 58.7% | +1.5 pts |
| Net margin | 47.3% | 45.5% | +1.8 pts |
| Free cash flow margin | 37.5% | 56.1% | -18.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Payment network | $5.5B | $4.9B | $506M | +10% |
| Value-added services and solutions | $3.8B | $3.2B | $638M | +20% |
| Revenue | $9.3B | $8.1B | $1.1B | +14% |
| Operating profit | $5.6B | $4.8B | $810M | +17% |
| Costs & expenses | $3.7B | $3.4B | $334M | +10% |
| Pre-tax earnings | $5.5B | $4.7B | $814M | +17% |
| Other expense, net | $101M | $105M | −$4.0M | -4% |
| Sales & marketing | $217M | $213M | $4.0M | +2% |
| General & admin | $3.1B | $2.8B | $316M | +11% |
| Other operating costs | $391M | $377M | $14.0M | +4% |
| Net earnings | $4.4B | $3.7B | $687M | +19% |
| Income tax | $1.1B | $971M | $127M | +13% |
| Depreciation & amortization | $309M | $281M | $28.0M | +10% |
| Share-based compensation | $190M | $179M | $11.0M | +6% |
| Working capital & other | $1.1B | −$442M | $1.6B | — |
| Operating cash flow | $3.8B | $4.6B | −$830M | -18% |
| Free cash flow (OCF − capex) | $3.5B | $4.6B | −$1.1B | -24% |
| Capital expenditures | $291M | $40.0M | $251M | +628% |
Questions
How much did Mastercard's revenue grow year over year in Q2 2026?
Mastercard's revenue rose $1.1B (+14%) from $8.1B in Q2 2025 to $9.3B in Q2 2026.
What drove Mastercard's revenue change in Q2 2026?
Value-added services and solutions +$638M (+20%); Payment network +$506M (+10%).