Mastercard Incorporated (NYSE: MA) reported higher earnings and revenues for the second quarter of 2022. The results also exceeded analysts’ estimates. The credit card giant’s stock traded higher early Thursday soon after the announcement.
Adjusted earnings, excluding special items, climbed to $2.56 per share in the June quarter from $1.95 per share a year earlier and topped analysts’ estimates. Second-quarter unadjusted net income rose to $2.3 billion or $2.34 per share from $2.1 billion or $2.08 per share in the same period of 2021.
At $5.5 billion, net revenues were up 21% year-over-year and well above the consensus forecast. Gross dollar volume increased 14% and purchase volume moved up 18%, on a local currency basis.
Check this space to read management/analysts’ comments on Mastercard’s Q2 2022 results
“Increasing inflationary pressures have yet to significantly impact overall consumer spending but we will continue to monitor this closely. We have a well-diversified business model and the demonstrated ability to deliver strong operating margins through up and down cycles,” said Michael Miebach, Mastercard’s CEO.