Mastercard (MA) delivered solid second-quarter results, topping revenue and earnings estimates. The impressive results can be attributed to the payment processor benefiting from increased domestic and cross-border spending. Net revenue increased 36% year-over-year to $4.5 billion, beating consensus estimates of $4.33 billion. The increase came on the back of 58% growth in cross-border volume and 41% growth in switched transactions. Adjusted diluted earnings per share were up 43% from the same quarter last year to $1.95, beating consensus estimates of $1.72 a share. Amid the revenues and earnings beat CEO, Michael Miebach remains optimistic of a recovery in international travel driving additional growth.
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MasterCard (NYSE:MA)
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