News & Analysis
News & Analysis

Mastercard beats Wall Street expectations

29 July 2022 By Klavs Valters

Share

 

Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday.

The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion.

Earnings per share reported at $2.56 per share vs. $2.36 per share expected.

”We had strong revenue and earnings growth again this quarter, as overall consumer spending remained robust and cross-border volumes grew 58% versus year ago,” Michael Miebach, CEO of Mastercard said in a press release following the results.

”Increasing inflationary pressures have yet to significantly impact overall consumer spending but we will continue to monitor this closely. We have a well-diversified business model and the demonstrated ability to deliver strong operating margins through up and down cycles,” Miebach concluded.

Mastercard Incorporated (MA) chart

 

 

Shares of MasterCard were trading higher on Thursday after beating Wall Street expectations, up by around 1% at $348.50 per share.

Here is how the stock has performed in the past year:

  • 1 Month +10.56%
  • 3 Month -7.92%
  • Year-to-date -2.92%
  • 1 Year -10.29%

Mastercard Incorporated price targets

  • JP Morgan $425
  • Wells Fargo $400
  • Piper Sandler $298
  • Mizuho $375
  • Truist Securities $420
  • Barclays $430
  • BMO Capital $402
  • Morgan Stanley $452

Mastercard Incorporated is the 19th largest company in the world with a market cap of $338.14 billion.

You can trade Mastercard Incorporated (MA) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Mastercard Incorporated, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap

 

 

 

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

#Economy #Economics #Finance #Markets