Mastercard shares posts Q2 earnings, revenue ahead of estimates; stock climbs
MasterCard (NYSE: MA) shares climbed in premarket trading Wednesday after the company reported better-than-expected earnings and revenue for the fiscal Q2.
Earnings per share (EPS) for the quarter came in at $3.59, surpassing the consensus estimate of $3.51. Revenue for the quarter stood at $7 billion, up 11% year-over-year and exceeding the consensus estimate of $6.85 billion.
The operating margin was reported at 58%, slightly below the estimated 58.5%.
Mastercard shares rose 2.8% in the premarket trade.
Cross-border volumes increased by 17%, outperforming the expected 16.4%. Purchase volume reached $1.97 trillion, compared to the estimated $2.01 trillion, and Gross Dollar Volume was $2.40 trillion, falling short of the $2.46 trillion estimate.
MasterCard reported an 11% growth in switched transactions.
“We delivered another strong quarter across all aspects of our business with double-digit net revenue and earnings growth,” said Michael Miebach, Mastercard CEO.
“These results reflect how payments and services enable each other to create differentiated value for our customers and help us realize even more of the shift to digital.”
By Vahid Karaahmetovic