Mastercard Incorporated (NYSE: MA) reported higher adjusted earnings and revenues for the first quarter of 2023.
Adjusted earnings, excluding special items, moved up to $2.80 per share in the March quarter from $2.76 per share a year earlier. First-quarter unadjusted net income, meanwhile, dropped to $2.4 billion or $2.47 per share from $2.6 billion or $2.68 per share in the same period of 2022.
At $5.7 billion, net revenues were up 11% year-over-year. Gross dollar volume increased 15% and purchase volume moved up 17%, on a local currency basis.
“We delivered strong revenue and earnings growth this quarter, reflecting resilient consumer spending and the continued recovery of cross-border travel,” said Michael Miebach, Mastercard’s CEO.
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