Mastercard sees spending return as economies open after coronavirus gloom [Toronto Globe and Mail (Ontario, Canada)]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Toronto Globe and Mail
Mastercard sees spending return as economies open after coronavirus gloom Mastercard reported quarterly results on Wednesday. Thomas White/Reuters Mastercard reported quarterly results on Wednesday. Mastercard Inc said it expects consumer spending to gradually return to “pre-COVID” levels as people start using their cards again on clothing and domestic travel with countries easing lockdown measures that have brought the world to a standstill. The world’s second-largest payment processor on Wednesday reported better-than-expected first-quarter earnings and said it has started seeing early signs of spending levels stabilizing. The novel coronavirus pandemic has shut down large parts of the global retail industry as stores remain shut and shoppers stay at home to avoid catching the highly contagious illness. The outbreak has also hammered the global economy, pushing companies to layoff employees by the millions. That, in turn, could weigh on credit card issuers as more people default
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