Mastercard 1Q Revenue Climbs, Boosted by Favorable Consumer Backdrop
By Sabela Ojea
Mastercard said rose in the latest quarter, citing healthy consumer spending and strong cross-borer volume growth.
The credit card giant on Wednesday posted a net profit of $3.01 billion, or $3.22 a share, compared with $2.36 billion, or $2.47 a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at $3.31. Analysts polled by FactSet had forecast adjusted earnings per share of $3.25.
Revenue rose 10% to $6.35 billion, beating the $6.34 billion expected by analysts, according to FactSet.
Mastercard said gross dollar volume rose 10% in the period, with cross-border volume rising 18% in the period.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 01, 2024 08:32 ET (12:32 GMT)
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