Mastercard Stock ( NYSE:MA )
Mastercard Inc. ( NYSE:MA ) reported $2.65 per share in fourth-quarter 2022 adjusted earnings, beating the Consensus Estimate and our estimate of $2.56. Year on year, the bottom line increased by 13%. Mastercard stock fell by nearly 2% following the results as card spending slowed.
Mastercard, the leading technology company in the global payments industry, reported $5,817 million in revenue in the current quarter , up 12% year on year. The revenue surpassed the consensus estimate of $5,766 million and our estimate of $5,792.6 million.
Resilient consumer spending, cross-border travel recovery, cross-border volume growth, higher gross dollar volume (GDV), and increased switched transactions contributed to Mastercard’s strong quarterly results. Its exposure to Asian economies contributed to improved performance. However, rising operating expenses offset some of the gains.
Operational Performance in the Fourth Quarter
GDV (representing the aggregated dollar amount of purchases made and cash disbursements obtained from MasterCard-branded cards) increased 8% year over year to $2,133 billion in the quarter under review. This was less than our $2,189 billion estimate.
Cross-border volumes (a key measure that tracks card spending outside the issuing country) increased 31% yearly in local currency. Switched transactions, which measure how many times a company’s products are used to facilitate transactions, totaled 34 billion. The metric increased by 8% year on year.
Other revenues increased 11% y...
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