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22h ago

Mastercard Tops Q2 Forecasts on Strong Consumer Spending and Volume Growth

Partnership with Fiserv to integrate stablecoin services follows the launch of a new consumer rewards suite to sustain growth.

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

  • Mastercard reported adjusted Q2 earnings of $4.15 per share on revenue of $8.13 billion, exceeding analyst estimates of $4.03 and $7.97 billion.
  • Gross dollar volume climbed 9% year-over-year while purchase volume rose 10% as consumer spending remained elevated.
  • Shares rose 1.5% in early trading and have gained about 6% year-to-date following the earnings beat.
  • On July 16, Mastercard introduced The Mastercard Collection, a suite of consumer benefits tailored to evolving spending preferences.
  • The company expanded its digital-assets footprint by partnering with Fiserv to bring the firm’s new stablecoin into Mastercard’s payment network.