MasterCard (NYSE: MA) shares moved slightly lower premarket Wednesday following its latest quarterly results, which saw it top consensus earnings and revenue expectations.

The payment technology firm reported fourth-quarter earnings of $3.18 per share, $0.10 better than the analyst estimate of $3.08 per share. Revenue for the quarter came in at $6.5 billion, up 13% year-on-year and above the consensus estimate of $6.48 billion.

The company put the revenue increase down to growth in its payment network and its value-added services and solutions. Payment network net revenue increased by 9%. In addition, its results were helped by healthy consumer spending and cross-border volume growth. Q4 cross-border volume growth rose 18% on a local currency basis.

Mastercard also noted that Q4 gross dollar volume was up 10%, and purchase volume increased 11% year-on-year.

"We delivered strong earnings and revenue growth for the full year 2023, driven by healthy consumer spending, cross-border volume growth of 24 percent, and the solid execution of our strategy," said Michael Miebach, CEO of Mastercard.

By Sam Boughedda