COF - Mastercard sees cross-border activity rising introduces new long-term goals

Just a couple of days after the U.S. eased restrictions on international travelers, Mastercard (MA -0.3%) released a new long-term performance goals in a presentation to investors, according to a filing made on Wednesday. The card payment network targets net revenue of compound annual growth rate objective of high-teens percentage for 2022-2024. In the shorter-term, Mastercard (NYSE:MA) said last month it expects Q4 non-GAAP net revenue growth in the low-20s percentage. Both long-term and Q4 views are on a currency neutral basis, excluding acquisitions. It's also targeting minimum 50% annual operating margin and EPS CAGR in low-20s percentage for the longer-term time line, according to a Wednesday filing. Mastercard CEO Michael Miebach told CNBC's Jim Cramer on Wednesday that the company is already seeing a rise in cross-border volumes and expects more improvement. "The trends are super-encouraging," he said. Specifically, 20% of the top global markets, from a cross-border perspective,

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Mastercard sees cross-border activity rising, introduces new long-term goals