NEW YORK - MasterCard Inc. said Tuesday its first - quarter profit jumped 24 percent as consumers, especially those outside the United States, swiped their credit and debit cards more often.
The results topped analysts' estimates. Its shares rose $6.11, or 2.2 percent, to $281.40 in pre-market trading.
The payment processor said its net income rose to $562 million, or $4.29 per share, in the three months ended March 31, up from $455 million, or $3.46 per share, in the year-ago period.
Revenue rose 15 percent to $1.50 billion from $1.31 trillion a year earlier.
On average, analysts polled by FactSet expected earnings of $4.08 per share on revenue of $1.45 trillion.
Purchase volume increased 13 percent from the previous year to $545 billion. Much of that growth came outside of the U.S. Purchase volume worldwide excluding the United States increased 16.5 percent, while U.S. purchase volume rose 7.4 percent.
The company also noted its revenue growth was helped by more consumers traveling across borders and using their credit and debit cards. That type of spending jumped 18.5 percent during the period.
The number of transactions MasterCard handled rose 11 percent to 6 billion from the previous year.
Debit purchases were up 16.3 percent globally, while credit card purchase volume increased 11.7 percent. The U.S. posted the smallest increase in credit card purchase volume at just 4.9 percent, compared with a 14.6 percent gain worldwide.
No comments:
Post a Comment