Mastercard's Earnings Rise 11%
October 29 2019 - 8:25AM
Dow Jones News
By Allison Prang
Mastercard Inc.'s profit rose 11% from the comparable quarter a
year earlier, driven by an increase in revenue.
The credit-card company's profit came in at $2.11 billion, while
earnings were $2.07 a share, up from $1.82 a share.
Net revenue was $4.47 billion, up 15%. Adjusted earnings were
$2.15 a share. Both beat estimates from analysts polled by
FactSet.
The value of its card transactions, or gross dollar volume,
increased 12% to $1.65 trillion.
Shares of Mastercard rose 1.1% premarket.
During the third quarter, Mastercard said it was in a $3.19
billion deal -- what it said is its biggest yet -- to buy the
majority of the corporate services businesses of Nets A/S, a Danish
payment services company. The assets Mastercard is buying include
account-to-account payments infrastructure.
Mastercard also reported $100 million in net losses on equity
investments. Income tax expense also rose to $426 million, up
17%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 29, 2019 09:10 ET (13:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
MasterCard (NYSE:MA)
Historical Stock Chart
From Apr 2024 to May 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From May 2023 to May 2024