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Profit and Revenue Surge as MasterCard Posts Strong Q2 on Payment Network Growth

Deep News
Jul 30

MasterCard saw its second-quarter sales rise, driven by expansion in its payment network. The credit card company reported a quarterly profit of $4.39 billion, or $4.97 per share, on Thursday, up from $3.70 billion, or $4.07 per share, in the same period last year.

Excluding certain one-time items, adjusted earnings per share came in at $5.04, surpassing the analyst consensus of $4.77 compiled by FactSet. Revenue grew 14% to $9.28 billion, exceeding the $9.08 billion forecast by analysts surveyed by FactSet.

The company attributed the boost in sales to growth in both its MasterCard payment network and value-added services. Revenue from the payment network rose 10%, fueled by higher total transaction volumes and increased cross-border transaction activity.

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