Mastercard reported strong financial results for the fourth quarter and full year 2024, with net revenue increasing 14% year-over-year to $7.5 billion in the fourth quarter, or 16% on a currency-neutral basis. Net income for the quarter was $3.3 billion, with diluted earnings per share (EPS) of $3.64. Adjusted net income was $3.5 billion, and adjusted diluted EPS was $3.82.

For the full year, net revenue reached $28.2 billion, up 12% from 2023, or 13% on a currency-neutral basis. Full-year net income was $12.9 billion, with diluted EPS of $13.89. Adjusted net income was $13.5 billion, and adjusted diluted EPS was $14.60, representing a 19% year-over-year increase.

Key business drivers included a 12% increase in gross dollar volume (GDV) for the quarter, a 20% rise in cross-border volume, and an 11% growth in switched transactions. The company’s value-added services and solutions segment grew by 16% in Q4, reflecting strong demand for security, digital authentication, and business insight services.

Operating expenses increased 12% in the quarter, driven by higher general and administrative costs, while the effective income tax rate decreased to 14.1% from 16.0% a year earlier.

Mastercard continued returning capital to shareholders, repurchasing 6.5 million shares for $3.4 billion in Q4 and paying $606 million in dividends. For the full year, the company repurchased 23.0 million shares for $11.0 billion and paid $2.4 billion in dividends.

CEO Michael Miebach emphasized the company’s continued growth, highlighting its payments and services expansion, including the acquisition of Recorded Future, and strong market demand. Mastercard remains confident in its long-term growth strategy, supported by continued investment in digital payments and security solutions.