Q1 25 EPS
$3.73
BEAT +4.80%
Est. $3.56
Q1 25 Revenue
$7.25B
BEAT +1.79%
Est. $7.12B
vs S&P Since Q1 25
-36.0%
TRAILING MARKET
MA -8.9% vs S&P +27.2%
Market Reaction
Did MA Beat Earnings? Q1 2025 Results
Mastercard kicked off 2025 with a strong first quarter, posting adjusted diluted EPS of $3.73 against a Wall Street consensus of $3.56, a beat of 4.80%, while net revenue of $7.25 billion topped estimates by 1.79% and climbed 14.2% year over year. Th… Read more Mastercard kicked off 2025 with a strong first quarter, posting adjusted diluted EPS of $3.73 against a Wall Street consensus of $3.56, a beat of 4.80%, while net revenue of $7.25 billion topped estimates by 1.79% and climbed 14.2% year over year. The primary engine behind the results was broad-based payment network momentum: gross dollar volume reached $2,417 trillion, cross-border volume expanded 15% on a local currency basis, and switched transactions grew 9%, together lifting payment network net revenue 13% for the period. Value-added services and solutions contributed meaningfully as well, with that segment growing 16% as security, digital authentication, and consumer engagement offerings gained traction. Adjusted net income reached $3.41 billion, and the adjusted operating margin edged higher to 59.3% from 58.8% a year ago, even as a newly enacted global minimum tax in Singapore pressured the effective tax rate. CEO Michael Miebach acknowledged macroeconomic uncertainty but pointed to Mastercard's diversified model as a stabilizing factor, while the company returned $2.50 billion through share repurchases and $694 million in dividends during the quarter.
Key Takeaways
- • Gross dollar volume growth of 9% on a local currency basis to $2.4 trillion
- • Cross-border volume growth of 15% on a local currency basis
- • Switched transactions growth of 9%
- • Value-added services growth driven by security and digital authentication solutions and consumer acquisition and engagement services
- • Acquisitions contributed 1 percentage point to overall net revenue growth and 4 percentage points to value-added services growth
- • Pricing improvements in value-added services
MA YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“We started 2025 strong with net revenue growth of 14% year-over-year, or 17% on a currency-neutral basis. This was aided in part by cross-border volume growth of 15%.”
— Michael Miebach, Q1 2025 Earnings Press Release
MA Earnings Trends
MA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MA EPS Trend
Earnings per share: estimate vs actual
MA Revenue Trend
Quarterly revenue: estimate vs actual
MA Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $4.60 | — | $8.40B | +1.73% |
| Q4 25 BEAT FY | $4.24 | $4.76 | +12.26% | $8.81B | — |
| FY Full Year | $16.46 | $17.01 | +3.33% | $32.79B | +0.25% |
| Q3 25 BEAT | $4.31 | $4.38 | +1.52% | $8.60B | +0.82% |
| Q2 25 BEAT | $4.02 | $4.15 | +3.12% | $8.13B | +1.88% |
| Q1 25 BEAT | $3.56 | $3.73 | +4.80% | $7.25B | +1.79% |