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Mastercard Profit Beats Estimates on Strong Consumer Spending
Mastercard said steady consumer demand and stronger cross-border activity lifted revenue 14%, while adjusted earnings of $5.04 a share beat estimates.
- On Thursday, Mastercard reported second-quarter net revenue of $9.3 billion, a 14% increase topping Wall Street estimates, with Chief Executive Officer Michael Miebach announcing adjusted earnings of $5.04 per share.
- Robust transaction volumes drove the performance as gross dollar volume jumped 8% to $2.9 trillion during the second quarter, while cross-border volumes climbed 12% and switched transactions grew 9%.
- Operating income climbed 17% to $5.59 billion, and operating margin expanded to 60.2% from 58.7% a year earlier, while revenue in value-added services and solutions segment increased 20%.
- Peers including Visa and American Express also beat profit estimates recently, bolstered by strong consumer demand, though high-income households drive spending despite disruptions over the Middle East.
- According to Benzinga Pro data, Mastercard shares traded up 3.04% at $580.46 on Thursday, as the company projects revenue growth in the low teens and repurchased 1.3 million shares for about $700 million.
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The Economic TimesReposted by 
Times of India
Times of IndiaMastercard profit beats estimates on strong consumer spending
Mastercard reported better-than-expected second-quarter profits on Thursday. Strong transaction volumes and resilient consumer spending supported the company's financial performance. Gross dollar volume rose eight percent, and net revenue increased fourteen percent.
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Coverage Details
Total News Sources14
Leaning Left0Leaning Right3Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
C 57%
R 43%
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