Mastercard Reports Strong Performance in Q4 2023
Mastercard, the global credit card company, announced robust earnings and revenue in the last quarter of 2023, fueled by strong consumer spending during the holiday season.
Financial Results
Profit: Mastercard recorded a profit of $2.79 billion, or $2.97 per share, compared to $2.53 billion, or $2.62 per share, in the same period the previous year.
Adjusted Earnings: Excluding one-time items, adjusted earnings amounted to $3.18 per share, surpassing analysts' expectations of $3.08 per share.
Revenue: Quarterly revenue increased to $6.55 billion from $5.82 billion in the year-ago quarter, surpassing analyst forecasts of $6.48 billion.
Strong Business Performance
Volume Growth: The gross dollar volume rose by 10% to $2.4 trillion during the quarter, while purchase volume saw an 11% increase.
Factors Driving Profit and Revenue: Mastercard's Chief Executive, Michael Miebach, attributed the company's higher profit and revenue to healthy consumer spending and a remarkable 24% surge in cross-border volume growth.
Operating Costs
- Total operating costs experienced a 21% increase.
For more information, please visit the official Mastercard website.
All Rights Reserved © 2024
Post a comment