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Mastercard Tops Q2 Estimates and Raises Annual Outlook on Strong Travel Demand

Management forecasts low-teens revenue growth for the year based on robust travel spending.

A screen displays the company logo for Mastercard Inc. on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 29, 2024.  REUTERS/Brendan McDermid/File photo
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Overview

  • Adjusted earnings per share reached $4.15, beating the $4.03 consensus estimate.
  • Net revenue climbed 17% year-over-year to $8.1 billion, surpassing forecasts of $7.97 billion.
  • Transaction volumes expanded with gross dollar volume up 9%, purchase volume rising 10% and cross-border payments climbing 15%.
  • Revenue from value-added services grew 22% as fraud prevention and digital offerings gained traction.
  • Leadership tightened full-year guidance to low-teens revenue growth and analysts raised price targets following the results.