Mastercard (MA) official guidance

Finally, we expect a non-GAAP tax rate in the range of 20%-21% for both the full year and Q4.

Finally, we expect a non-GAAP tax rate in the range of 20%-21% for both the full year and Q4.

We expect a minimal impact from acquisitions and dispositions and a headwind of 0.5-1 PPT from foreign exchange on a full year basis.

We anticipate a one PPT drag from acquisitions and dispositions, while foreign exchange is forecasted to be a tailwind of approximately 0.5 PPT for the quarter.

We anticipate minimal impact from acquisitions and dispositions and a tailwind of approximately 1 PPT from foreign exchange.

We expect minimum impact from acquisitions and dispositions and a headwind of approximately one PPT from foreign exchange, primarily driven by the strengthening of the U.S. dollar over the past quarter.

We expect a minimal impact from acquisitions and dispositions and a headwind of 0.5-1 PPT from foreign exchange on a full year basis.

We anticipate a one PPT drag from acquisitions and dispositions, while foreign exchange is forecasted to be a tailwind of approximately 0.5 PPT for the quarter.

We anticipate minimal impact from acquisitions and dispositions and a tailwind of approximately 1 PPT from foreign exchange.

We expect minimum impact from acquisitions and dispositions and a headwind of approximately one PPT from foreign exchange, primarily driven by the strengthening of the U.S. dollar over the past quarter.

We also expect full-year operating expenses growth to remain in line with previous expectations at a low double digits range versus a year ago on a currency-neutral basis, excluding inorganic activity.

From an operating expense standpoint, we expect Q4 growth to be at the high end of low double digits range versus a year ago, again, on a currency-neutral basis, excluding inorganic activity.

On other income and expense, in Q4, we expect an expense of approximately $115 million.

I also want to maybe take this moment to mention that for Q4, we would expect our rebates and incentives as a percent of gross assessments to be higher than Q3.

For the full year 2026, we expect net revenue growth to remain at the high end of low double digits range on a currency-neutral basis, excluding inorganic activity.

As it relates to our expectations for the fourth quarter of 2026, year-over-year net revenue growth is expected to be at the high end of low double digits range on a currency-neutral basis, excluding inorganic activity.

And finally, we expect a non-GAAP tax rate in the range of 20%-21% for both Q3 and Q4.

We anticipate a 0.5 PPT headwind from inorganic activity, while foreign exchange is forecasted to be a tailwind of approximately zero to 0.5 PPT for the quarter.

We expect a minimal impact from inorganic activity and a headwind of approximately 0.5 PPT from foreign exchange, given the recent trajectory of the U.S. dollar.

We anticipate a 0.5 PPT headwind from inorganic activity, while foreign exchange is forecasted to be a tailwind of approximately zero to 0.5 PPT for the quarter.