Categories AlphaGraphs, Earnings, Finance
MA Earnings: Mastercard Q1 2024 adj. profit rises on higher revenues
Credit card company Mastercard Incorporated (NYSE: MA) reported an increase in revenues and adjusted earnings for the first quarter of 2024.
Net revenue increased 10% year-over-year to $6.3 billion in the March quarter. Currency-neutral revenue growth was 11%.
The positive top-line performance translated into an 18% increase in adjusted earnings to $3.31 per share in Q1 from $2.80 per share in the prior year period. Unadjusted profit was $3.0 billion or $3.22 per share, compared to $2.4 billion or $2.47 per share in the first quarter of 2023.
“Our momentum continued this quarter, as we delivered strong revenue and earnings growth powered by healthy consumer spending, strong cross-border volume growth of 18%1year-over-year, and new deal wins in every region,” said Michael Miebach, CEO of Mastercard.
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