Filing Flows › Mastercard (MA) › Q3 2026 › vs Q2 2026
Mastercard (MA) Q3 2026 vs Q2 2026 (quarter over quarter)
Mastercard's revenue rose $530M (+6%) from $9.3B in Q2 2026 to $9.8B in Q3 2026. The biggest changes: Payment network +$298M (+5%); Value-added services and solutions +$232M (+6%). Operating margin 59.8% against 60.2% (-0.5 pts).
Mastercard, Q3 2026: revenue $9.8B (+14% year over year), operating margin 59.8%, net earnings $4.6B, operating cash flow $5.1B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 59.8% | 60.2% | -0.5 pts |
| Net margin | 47.2% | 47.3% | -0.1 pts |
| Free cash flow margin | 49.6% | 37.5% | +12.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Payment network | $5.7B | $5.5B | $298M | +5% |
| Value-added services and solutions | $4.1B | $3.8B | $232M | +6% |
| Revenue | $9.8B | $9.3B | $530M | +6% |
| Operating profit | $5.9B | $5.6B | $275M | +5% |
| Costs & expenses | $3.9B | $3.7B | $255M | +7% |
| Pre-tax earnings | $5.7B | $5.5B | $255M | +5% |
| Other expense, net | $121M | $101M | $20.0M | +20% |
| Sales & marketing | $252M | $217M | $35.0M | +16% |
| General & admin | $3.3B | $3.1B | $211M | +7% |
| Other operating costs | $400M | $391M | $9.0M | +2% |
| Net earnings | $4.6B | $4.4B | $240M | +5% |
| Income tax | $1.1B | $1.1B | $15.0M | +1% |
| Depreciation & amortization | $326M | $309M | $17.0M | +6% |
| Share-based compensation | $199M | $190M | $9.0M | +5% |
| Working capital & other | $66.0M | $1.1B | −$1.0B | -94% |
| Operating cash flow | $5.1B | $3.8B | $1.3B | +35% |
| Free cash flow (OCF − capex) | $4.9B | $3.5B | $1.4B | +40% |
| Capital expenditures | $222M | $291M | −$69.0M | -24% |
Questions
How much did Mastercard's revenue grow quarter over quarter in Q3 2026?
Mastercard's revenue rose $530M (+6%) from $9.3B in Q2 2026 to $9.8B in Q3 2026.
What drove Mastercard's revenue change in Q3 2026?
Payment network +$298M (+5%); Value-added services and solutions +$232M (+6%).