Mastercard Inc [MA] reports annual net loss of $11.2 billion

By USInMinutes - Mar 07, 2024, 04:48 AM ET

Last Updated - Mar 07, 2024, 04:48 AM EST

Mastercard Inc [MA] reports annual net loss of $11.2 billion

Company Reports Revenue of $25.1 billion

Mastercard Inc [MA] has reported a net loss of $11.2 billion for year ended Dec 31, 2023.

The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $25.1 billion

Based in PURCHASE, New York, Mastercard Inc operates in the SERVICES sector.

In the annual Consolidated Statement of Operations for the period ended December 31, 2023, the net revenue amounted to $25.098 billion, showcasing an increase from the previous year's figure of $22.237 billion in 2022 and $18.884 billion in 2021.

Operating expenses also saw an upward trend, with the total operating expenses reaching $11.090 billion in 2023 compared to $9.973 billion in 2022 and $8.802 billion in 2021. Among the operating expenses, general and administrative expenses were $8.927 billion, advertising and marketing expenses were $825 million, depreciation and amortization expenses were $799 million, and provision for litigation was $539 million in the current reporting period.

The operating income for the period under review stood at $14.008 billion, displaying an increase from $12.264 billion in 2022 and $10.082 billion in 2021.

Moving on to other income and expenses, investment income was $274 million, gains (losses) on equity investments amounted to ($61) million, interest expense was ($575) million, and other income (expense) was ($7) million, leading to a total other income (expense) of ($369) million in 2023. In comparison, the other income (expense) in 2022 was ($532) million and $225 million in 2021.

Income before income taxes showed a rise as well, reaching $13.639 billion in 2023, up from $11.732 billion in 2022 and $10.307 billion in 2021. The income tax expense was $2.444 billion in the current period, compared to $1.802 billion in 2022 and $1.620 billion in 2021.

Net income for the year ended December 31, 2023, was reported at $11.195 billion, marking an increase from $9.930 billion in 2022 and $8.687 billion in 2021.

In terms of earnings per share, the basic earnings per share for 2023 were $11.86, compared to $10.26 in 2022 and $8.79 in 2021. Similarly, the diluted earnings per share were $11.83 in 2023, $10.22 in 2022, and $8.76 in 2021. The basic weighted-average shares outstanding were 944 million in 2023, 968 million in 2022, and 988 million in 2021, while the diluted weighted-average shares outstanding were 946 million in 2023, 971 million in 2022, and 992 million in 2021.