(Reuters) – Mastercard Inc (NYSE) announced a greater first quarter profit Thursday. This was due to a rise in cross-border spend that resulted in higher payment volumes.

Comparing to $1.8billion, which is $1.83 per share a year before, the company saw a $2.6billion profit, or $2.68, per share for the three month ended March 31.

Mastercard’s cross border sales have increased despite new versions of coronavirus threatening to disrupt travel recovery.

Earnings of the New York-based firm were reported at $2.76 per Share, excluding one-time costs. According to Refinitiv, analysts had on average expected $2.17 per shares.

However, it was unclear if these numbers are comparable to estimates.

Mastercard saw its net income rise 28% to $5.2 million on a neutral currency basis.