Mastercard Shares Rise After Earnings And Revenue Beat Consensus

By Tonya Garcia Markets MarketWatch Pulse

Mastercard Inc. shares rose 2% in Thursday premarket trading after the financial services company reported second-quarter earnings and revenue that beat estimates. Net income for the quarter totaled $1.2 billion, or $1.10 per share, up from $1.0 billion, or 89 cents per share for the same period last year. The FactSet consensus was $1.04 per share. Revenue was $3.1 billion for the quarter, up from $2.7 billion last year and ahead of the $2.98 billion FactSet consensus. Mastercard reported a 17% increase in switched transactions to 16 billion, and a 9% increase in gross dollar volume on a local currency basis. Mastercard shares are up 27% for the year-to-date while the S&P 500 index is up 10.7% for the period.

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