Slide 1: Mastercard Incorporated Third Quarter 2024 Financial Results Conference Call
Mastercard Incorporated Third Quarter 2024 Financial Results Conference Call October 31, 2024
Slide 2: Business Update
Business Update Business Highlights Financial Overview ©2024 Mastercard October 31, 2024 2
Slide 3: 3rd Quarter Selected Financial Performance
3rd Quarter Selected Financial Performance ($ in millions, except per share data) 3Q 24 3Q 23 YOY Growth Non-GAAP Non-GAAP As adjusted Currency-neutral Net revenue $ 7,369 $ 6,533 13% 14% Adjusted operating expenses 2,999 2,689 12% 12% Adjusted operating income 4,370 3,844 14% 15% Adjusted operating
Slide 4: 3rd Quarter Gross Dollar Volume (GDV)
3rd Quarter Gross Dollar Volume (GDV) ($ in billions) Worldwide United States Rest of World 10% Growth 7% Growth 12% Growth $2,502 $2,600 $2,400 $2,303 $2,200 $2,000 $1,734 $1,800 $1,335 $1,584 $1,600 $1,207 $1,400 $1,200 $965 $863 $1,000 $719 $768 $800 $600 $1,096 $1,166 $343 $371 $400 $720 $769 $2
Slide 5: Switched Transactions and Cards
3rd Quarter Switched Transactions and Cards Switched Transactions Cards 11% Growth 6% Growth 4,000 3,445 50 3,249 352 41.1 3,000 382 Transactions (in billions) Cards (in millions) 40 37.2 30 2,000 3,093 2,868 20 1,000 10 0 0 3Q23 3Q24 3Q23 3Q24 Mastercard Cards Maestro Cards ©2024 Mastercard Note: F
Slide 6: 3rd Quarter Net Revenue
3rd Quarter Net Revenue ($ in millions) 3Q23 3Q24 $8,000 $7,369 $7,000 $6,533 $6,000 1 $5,000 1 $4,629 $4,210 $4,000 $2,740 $3,000 $2,323 $2,000 $1,000 $0 Value-added Growth Payment Network Services and Solutions Total Net Revenue GAAP 10% 18% 13% Currency-neutral 11% 19% 14% ©2024 Mastercard 1 Paym
Slide 7: Key Metrics related to the Payment Network
3rd Quarter Key Metrics related to the Payment Network ($ in millions) 3Q23 3Q24 $4,000 $3,587 $3,172 $3,000 $2,804 $2,641 $2,460 $2,313 $2,000 $1,000 $229 $227 $0 Cross-Border Transaction Other Domestic Assessments Assessments Processing Assessments Network Assessments Increase/(Decrease) 7% 21% 13
Slide 8: 3rd Quarter Adjusted Operating Expenses
3rd Quarter Adjusted Operating Expenses ($ in millions) 3Q23 3Q24 $2,999 $3,000 $2,689 $2,554 $2,500 $2,285 $2,000 $1,500 $1,000 $500 $193 $220 $211 $225 $0 Growth General & Administrative Advertising & Marketing Depreciation & Amortization Adjusted Operating Expenses Non-GAAP 12% 14% 7% 12% Currenc
Slide 9: Business Update Through October 28
th Business Update Through October 28 Year-over-year growth % 2024 Q2 Jul Aug Sep Q3 Oct 28 MTD 1 Switched volume 10% 11% 12% 9% 11% 12% United States 6% 6% 8% 4% 6% 8% Worldwide less U.S. 14% 15% 15% 13% 14% 15% Switched transactions 11% 10% 11% 10% 11% 11% 1 Cross-border volume 17% 18% 17% 16% 17%
Slide 10: Looking Ahead
Looking Ahead Further thoughts for 2024 ©2024 Mastercard October 31, 2024 10
Slide 11: Appendices
Appendices
Slide 12: Non-GAAP Reconciliation (Appendix A)
Appendix A Non-GAAP Reconciliation ($ in millions, except per share data) Three Months Ended September 30, 2024 Diluted Operating Operating Operating Other income Effective Net earnings per expenses income margin (expense) income tax rate income share Reported - GAAP $ 3,365 $ 4,004 54.3 % $ (138) 1
Slide 13: Non-GAAP Reconciliation (Appendix A, continued)
Appendix A (continued) Non-GAAP Reconciliation Three Months Ended September 30, 2024 as compared to the Three Months Ended September 30, 2023 Increase/(Decrease) Operating Operating Operating Effective income Net Diluted earnings expenses income margin tax rate income per share Reported - GAAP 25 %
Slide 14: Non-GAAP Reconciliation: Fourth quarter 2024 financial outlook
Appendix B Non-GAAP Reconciliation Fourth quarter 2024 financial outlook Q4'24 vs. Q4'23 Increase/(Decrease) Net Revenue Operating Expenses 1 Forecasted Growth - GAAP Low-teens Low-single-digit 2 Litigation provisions ** 11% High-end of Non-GAAP Growth Low-teens low-double-digits 3 Currency impact 0
Slide 15: Forward-Looking Statements
Forward-Looking Statements This earnings presentation contains forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. When used in this earn