Mastercard Q3 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
- Jul 1 – Sep 30, 2025
- Reported
- Oct 30, 2025
Revenue$8.6B
+17% year over year
Gross profit$8.0B
93% margin
Operating profit$5.1B
59% margin
Net profit$3.9B
46% margin
Figures in billions of dollars.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 8.6 | 100% | +17% |
| Payment network | 5.2 | 60% | +12% |
| Value added services & | 3.4 | 40% | +25% |
| Cost of revenue | −0.6 | 7% | |
| Gross profit | 8.0 | 93% margin | +1pp |
| G&A | −2.9 | 34% | −3pp |
| Operating profit | 5.1 | 59% margin | +4pp |
| Interest & other costs | −0.1 | ||
| Tax | −1.1 | ||
| Net profit | 3.9 | 46% margin | +1pp |
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