Stock Groups

Mastercard’s third-quarter profit soars 60% on spending recovery -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO A 3D printed Mastercard logo can be seen on the displayed stock graph of this illustration from September 20, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters] Mastercard Inc reported a 60% rise in profit for the third quarter on Thursday. The increase was driven by increased domestic spending and a recovery in cross border spending.

From $1.5 billion or $1.51 each share a year prior, the payments giant earned $2.4 billion or $2.44 per share in its quarter ended September 30, compared to $1.5 billion or $1.5 billion a year before.

After staying at home for more than a full year, many customers are starting to venture out on their own and enjoying dining, travel, and other social activities. These opportunities were made possible through vaccinations against coronavirus.

The company made $2.37 per shares on an adjusted basis. Refinitiv IBES data showed that analysts were anticipating a average of $2.19 per shares. However, it was unclear if the estimates were comparable.

The quarter saw a 30% increase in net revenue to $5 billion

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]