Mastercard (MA) Shares Rip as Volume, Transactions Boost Q2 Results
Tweet
Share
E-mail
Get Alerts MA Hot Sheet
Price: $580.64 +1.18%
Financial Fact:
Total other income (expense): -37M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total other income (expense): -37M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Mastercard Inc. (NYSE: MA) shares are trading sharply higher Wednesday, following strong results from the Purchase, NY-based credit card processor.
Revenue increased 22 percent from $1.365 billion to $1.667 billion. The number was stronger than $1.55 billion expected on the Street.
Net income increased nearly 33 percent to $608 million, or $4.76 per diluted share. MasterCard's EPS was a massive 54 cents better than the consensus of $4.22.
Worldwide charge and debit programs saw a 23.6 percent increase in Gross Dollar Volume.
"Solid global performance, including strong increases in volume and processed transactions, fueled double-digit revenue growth this quarter," said Ajay Banga, MasterCard president and chief executive officer. "While payment volumes have risen across our base customers, we’re also seeing new business such as the portfolio conversions of SunTrust and Sovereign, as well as new processing relationships in the Netherlands and in Brazil, contribute to growth."
MasterCard is ripping above eight percent in the morning session.
Revenue increased 22 percent from $1.365 billion to $1.667 billion. The number was stronger than $1.55 billion expected on the Street.
Net income increased nearly 33 percent to $608 million, or $4.76 per diluted share. MasterCard's EPS was a massive 54 cents better than the consensus of $4.22.
Worldwide charge and debit programs saw a 23.6 percent increase in Gross Dollar Volume.
"Solid global performance, including strong increases in volume and processed transactions, fueled double-digit revenue growth this quarter," said Ajay Banga, MasterCard president and chief executive officer. "While payment volumes have risen across our base customers, we’re also seeing new business such as the portfolio conversions of SunTrust and Sovereign, as well as new processing relationships in the Netherlands and in Brazil, contribute to growth."
MasterCard is ripping above eight percent in the morning session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Klarna shares draw top investor interest at Wolfe amid fintech positioning shift
- ZKH Group Limited (ZKH) Reports Q2 EPS of $0.04
- Twin Disc (TWIN) Tops Q4 EPS by 16c
Create E-mail Alert Related Categories
Earnings, Hot EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
