Mastercard reported their financial results for Q3 before the opening bell on Thursday. The company beat Wall Street expectations – let’s take a closer look at the numbers.
The financial services company reported net revenue of $5 billion in the third-quarter of 2021, up by 30% year-on-year. Earnings per share at $2.37 per share vs. $2.19 a share expected.
”We saw continued momentum across the business as we delivered strong revenue and earnings growth again this quarter. Our performance was driven by the execution of our strategy, healthy domestic spending and solid growth in cross-border spending which has recently returned to pre-pandemic levels,” said Michael Miebach, Mastercard CEO.
”We are extending the scale and power of our trusted network through innovations like our new Mastercard Instalments program. And, we continue to add to our efforts in cryptocurrency services and open banking through the acquisition of CipherTrace and the planned acquisition of Aiia,” he continued.
Mastercard chart (1Y)
The share price of Mastercard saw little change during the trading day on Thursday, trading at around $333 per share. The stock is up by 14% in the past year.
Mastercard is the 27th largest company in the world with a total market cap of $329.04 billion.
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Sources: Mastercard, Refinitiv, TradingView, CompaniesMarketCap
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