Higher consumer spending helps Mastercard beat quarterly profit estimates

Reuters

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30 липня 2019 12:07

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(Reuters) - Mastercard Inc (MA.N) on Tuesday beat Wall Street estimates for quarterly profit, as a robust economy encouraged customers to spend more, boosting fee income for the world’s second-largest payment processor.

The company’s gross dollar volume, the dollar value of transactions processed, rose 8.3% to $1.60 trillion in the second quarter.

Overall consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose in April and May, while U.S. retail sales registered solid growth in every month of the quarter.

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Around 26.80 billion transactions were processed, up nearly 21% from a year earlier. The gain was led by a 10% rise in the United States and a 31% jump in Europe.

Net revenue rose 12.2% to $4.11 billion, edging past analysts’ estimates of $4.08 billion.

The company's net income rose to $2.05 billion, or $2 per share, in the second quarter ended June 30, from $1.57 billion, or $1.5 per share, a year earlier. (bit.ly/2YrlOel)

On an adjusted basis, the company earned $1.89 per share. Analysts on average had expected a profit of $1.83, according to IBES data from Refinitiv.

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