Mastercard said net revenue for the quarter ended March 31, 2024 rose 10% versus the prior-year period, or 11% on a currency-neutral basis. Net revenue from the payment network increased 7%, or 8% on a currency-neutral basis, and net revenue from value-added services and solutions rose 16%, or 15% on a currency-neutral basis.

10-QQuarterly reportFiled May 1, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Mastercard said net revenue for the quarter ended March 31, 2024 rose 10% versus the prior-year period, or 11% on a currency-neutral basis. Net revenue from the payment network increased 7%, or 8% on a currency-neutral basis, and net revenue from value-added services and solutions rose 16%, or 15% on a currency-neutral basis.
The company said operating expenses for the quarter rose 5% from the prior-year period, and adjusted operating expenses rose 9%. It cited higher personnel and data processing costs as the driver of the 12% increase in general and administrative expenses, and the timing of sponsorship spending as the reason advertising and marketing expenses fell 31%.
The company said it recorded litigation provision expenses of $126 million this quarter, including charges related to the ATM non-discrimination rule surcharge complaints. It said its effective income tax rate was 15.4%, lower than 17.2% in the prior-year period.
The company said it repurchased 4.4 million shares for $2.0 billion this quarter and paid dividends of $0.6 billion. It said total debt outstanding was $15.6 billion as of March 31, 2024, and that it had no borrowings under its commercial paper program or credit facility.

Key figures

Quarter ended March 31, 2024

Revenue: $6.3B
Operating income: $3.6B
Net income: $3.0B
EPS: $3.22
Operating cash flow: $1.7B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Revenue Growth and Segment Drivers for Q1 2024

Mastercard said net revenue for the quarter ended March 31, 2024 rose 10% versus the prior-year period, or 11% on a currency-neutral basis. Net revenue from the payment network increased 7%, or 8% on a currency-neutral basis, and net revenue from value-added services and solutions rose 16%, or 15% on a currency-neutral basis.

Source · Based on the MD&A text of the filing

Higher Operating Expenses and Advertising Changes

The company said operating expenses for the quarter rose 5% from the prior-year period, and adjusted operating expenses rose 9%. It cited higher personnel and data processing costs as the driver of the 12% increase in general and administrative expenses, and the timing of sponsorship spending as the reason advertising and marketing expenses fell 31%.

Source · Based on the MD&A text of the filing

Litigation Provision Expense and Effective Tax Rate

The company said it recorded litigation provision expenses of $126 million this quarter, including charges related to the ATM non-discrimination rule surcharge complaints. It said its effective income tax rate was 15.4%, lower than 17.2% in the prior-year period.

Source · Based on the MD&A text of the filing

Share Repurchases, Dividends and Debt Position

The company said it repurchased 4.4 million shares for $2.0 billion this quarter and paid dividends of $0.6 billion. It said total debt outstanding was $15.6 billion as of March 31, 2024, and that it had no borrowings under its commercial paper program or credit facility.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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