Mastercard Q1 FY25: where the revenue came from and where it went
The whole income statement of Mastercard for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2025
- Reported
- May 1, 2025
Revenue$7.3B
+14% year over year
Gross profit$6.7B
92% margin
Operating profit$4.1B
57% margin
Net profit$3.3B
45% margin
Figures in billions of dollars.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 7.3 | 100% | +14% |
| Payment network | 4.4 | 61% | +13% |
| Value added services & | 2.8 | 39% | +16% |
| Cost of revenue | −0.6 | 8% | |
| Gross profit | 6.7 | 92% margin | −1pp |
| G&A | −2.5 | 35% | −1pp |
| Operating profit | 4.1 | 57% margin | +0pp |
| Interest & other costs | −0.1 | ||
| Tax | −0.8 | ||
| Net profit | 3.3 | 45% margin | −2pp |
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