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Mastercard Incorporated (MA-0.90%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Mastercard's performance, reporting a net revenue of $28.2 billion, an increase of 12% from the previous year. This growth was attributed to an increase in both payment network and value-added services and solutions.
Operating expenses rose to $12.6 billion, a 13% increase, primarily due to higher general and administrative expenses and litigation provisions.
Mastercard reported a net income of $12.9 billion, up 15% from the prior year, with a diluted earnings per share of $13.89.
The company's effective income tax rate decreased to 15.6% from 17.9% in the previous year, influenced by changes in valuation allowances and geographic earnings mix.
Cash provided by operating activities was $14.8 billion. Mastercard completed acquisitions totaling $2.8 billion, including the acquisition of Recorded Future, a global threat intelligence company.
The company repurchased 23.0 million shares of its common stock for $11.0 billion and paid dividends of $2.4 billion.
Mastercard's total debt outstanding at year-end was $18.2 billion, with $4.0 billion in new debt issued during the year.
The filing also outlines Mastercard's strategic priorities, focusing on consumer payments, commercial and new payment flows, and services and other solutions.
Mastercard continues to face competition from various sectors, including general purpose payments networks, digital wallets, and government-backed solutions.
The company is subject to various regulatory requirements globally, impacting areas such as privacy, data protection, and financial market infrastructure.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mastercard Incorporated annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.