Mastercard (NYSE: MA) reported lower earnings and revenues for the third quarter, which also missed Wall Street’s expectations. The credit card firm’s stock declined early Wednesday, following the announcement.
Third-quarter revenues decreased 14% annually to $3.8 billion and missed the consensus forecast. The top-line was hurt by the impacts of COVID-19.
Adjusted earnings plunged to $1.60 per share from $2.15 per share in the third quarter of 2019. Earnings also missed analysts’ prediction. Reported profit dropped to $1.5 billion or $1.51 per share from $2.1 billion or $2.07 per share a year earlier.
Read management/analysts’ comments on Mastercard’s Q3 earnings
Shares of Mastercard have gained 14% in the past twelve months. They dropped during Wednesday’s pre-market trading soon after the company unveiled the quarterly numbers.