Mastercard 4Q Profit Rises as Consumers Continue to Spend
31 Janeiro 2024 - 11:47AM
IH Market News
In the last quarter of 2023, Mastercard (NYSE:MA) reported
increased earnings and revenue, driven by high consumer spending
during the holiday season.
The credit card giant announced a profit of $2.79 billion, or
$2.97 per share, up from $2.53 billion, or $2.62 per share, in the
corresponding quarter of the previous year.
After adjustments for one-time items, earnings per share reached
$3.18, exceeding the expectations of FactSet analysts who had
predicted $3.08 per share.
Quarterly revenue rose to $6.55 billion from $5.82 billion in
the same period last year, surpassing analyst estimates of $6.48
billion, according to FactSet data.
There was a 10% increase in total transaction volume, reaching
$2.4 trillion, and purchase volume saw an 11% increase.
Michael Miebach, CEO of Mastercard, attributed the positive
performance to high consumer spending and a significant 24%
increase in international transaction volume.
The company’s total operating costs rose by 21% during the
period.
MasterCard (NYSE:MA)
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