Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday.
The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion.
Earnings per share reported at $2.56 per share vs. $2.36 per share expected.
”We had strong revenue and earnings growth again this quarter, as overall consumer spending remained robust and cross-border volumes grew 58% versus year ago,” Michael Miebach, CEO of Mastercard said in a press release following the results.
”Increasing inflationary pressures have yet to significantly impact overall consumer spending but we will continue to monitor this closely. We have a well-diversified business model and the demonstrated ability to deliver strong operating margins through up and down cycles,” Miebach concluded.
Mastercard Incorporated (MA) chart
Shares of MasterCard were trading higher on Thursday after beating Wall Street expectations, up by around 1% at $348.50 per share.
Here is how the stock has performed in the past year:
Mastercard Incorporated price targets
Mastercard Incorporated is the 19th largest company in the world with a market cap of $338.14 billion.
You can trade Mastercard Incorporated (MA) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with Prime Fx Markets as a Share CFD.
Sources: Mastercard Incorporated, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap
Disclaimer: Articles are from Prime Fx Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by Prime Fx Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...
Pfizer Inc. (PFE) reported its Q2 financial results before the market open in the US on Thursday. World’s third largest pharmaceutical company to...