Credit card company Mastercard Incorporated (NYSE: MA) reported higher revenues and adjusted earnings for the second quarter of 2024. The results also topped expectations.
Net revenue increased 11% year-over-year to $7.0 billion in the June quarter and exceeded estimates. Currency-neutral revenue growth was 13% during the three months.
The top-line growth translated into a 24% increase in adjusted earnings to $3.59 per share in Q2 from $2.89 per share in the prior year period. Analysts were looking for a slower growth. Unadjusted profit was $3.3 billion or $3.50 per share, compared to $2.8 billion or $3.0 per share in the second quarter of 2023.
“We delivered another strong quarter across all aspects of our business with double-digit net revenue and earnings growth,” said Michael Miebach, Mastercard’s CEO.