Mastercard 2025 Third Quarter 10-Q Report

The provided text is an excerpt from a Form 10-Q Quarterly Report filed by Mastercard Incorporated with the United States Securities and Exchange Commission for the period ended September 30, 2025. This regulatory filing details the company's unaudited consolidated financial statements, including the Statements of Operations and Balance Sheets, which reveal that net revenue increased 17% for the quarter and 16% for the nine months ended September 30, 2025, largely driven by growth in both its payment network and value-added services. Additionally, the report contains a discussion of Management’s Discussion and Analysis of Financial Condition and Results of Operations and outlines various risk factors and ongoing legal and regulatory proceedings, particularly concerning interchange litigation across the U.S. and other international jurisdictions. The document also includes required disclosures regarding the company's risk management practices, including settlement exposure and the use of derivative and hedging instruments.