MA — what changed in the latest 10-Q
A section-by-section comparison of MA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +6 | −7 | ~45 | 70 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Other information | Text added/removed | 0 | −6 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
•In the three and nine months ended September 30, 2026, we recorded net losses of $5 million (net gains of $24 million after tax, or $0.03 per diluted share) and net losses of $73 million (net losses of $45 million after tax, or $0.05 per diluted share), respectively, primarily related to realized f…
•In the three months ended September 30, 2026, we recorded charges of $74 million ($49 million after tax, or $0.06 per diluted share), primarily due to settlements with merchants who opted out of the U.S. merchant class litigation. In the nine months ended September 30, 2026, we recorded charges of …
Three Months Ended September 30,Nine Months Ended September 30,
Three Months Ended September 30,Nine Months Ended September 30,
For the nine months ended September 30, 2026, advertising and marketing expenses increased 2%, or 1% on a currency-neutral basis, versus the comparable period in 2025.
Text removed vs the prior filing · source: 10-Q · 2026-07-30
•We issued commercial paper and at June 30, 2026 had $0.7 billion outstanding.
•In the three and six months ended June 30, 2026, we recorded net losses of $2 million ($5 million after tax, or $0.01 per diluted share) and $68 million ($69 million after tax, or $0.08 per diluted share), respectively, primarily related to unrealized fair market value adjustments on marketable and…
•In the three and six months ended June 30, 2026, we recorded charges of $82 million ($59 million after tax, or $0.07 per diluted share), which includes a legal provision associated with the ATM non-discrimination rule surcharge complaints, a change in estimate related to the claims of merchants who…
See “Foreign Currency - Currency Impact” for further information on our currency impacts and “Financial Results - Net Revenue” and “Financial Results - Operating Expenses” for our "Drivers of Change” tables.
For the six months ended June 30, 2026, advertising and marketing expenses increased 1%, versus the comparable period in 2025. On a currency-neutral basis, advertising and marketing expenses decreased 1%, versus the comparable period in 2025.
Other information
Text removed vs the prior filing · source: 10-Q · 2026-07-30
(i) 4,280 shares of Class A Common Stock underlying employee stock options and (ii) 2,114 shares of Class A Common Stock
The earlier of (i) the date when all securities under plan are exercised and sold and (ii) December 31, 2026
AdoptionMay 6, 2026X-(i) 7,444 shares of Class A Common Stock underlying employee stock options and (ii) 7,266 shares of Class A Common StockThe earlier of (i) the date when all securities under plan are exercised and sold and (ii) March 15, 2027
AdoptionJune 15, 2026X-741 shares of Class A Common StockThe earlier of (i) the date when all shares under plan are sold and (ii) January 13, 2027
1Intended to satisfy the affirmative defense conditions of Rule 105b-1(c).
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice