Why Mastercard Stock Sank on Wednesday [Yahoo! Finance]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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US:NYSE Investor Relations:
investor.mastercard.com/investor-relations/default.aspx
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Source: Yahoo! Finance
Yet there was a distinct lack of love for the payment card giant on Wednesday, as investors traded out of the stock to the point where it lost 2% of its value. The culprit? The company's latest set of quarterly results. Double-digit increases Revenue came in at $6.3 billion for Mastercard in its first quarter, which was 10% higher year over year. On a currency-neutral basis -- which matters, as the company operates around the world, and its native currency is the strong U.S. dollar -- that growth amounted to 11%. This was on the back of a nearly 9% increase in gross dollar volume (GDV) to almost $2.3 trillion. Non-GAAP (generally accepted accounting principles) adjusted net income also saw a double-digit increase. It was 16% above the first-quarter 2023 figure on both an as-reported and currency-neutral basis, at $3.1 billion ($3.31 per share). As in previous quarters, Mastercard's improvements came down to consumers swiping and tapping more with their plastic to buy stuff.
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- 5/1/24 - Beat
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- 5/15/24 - Form 4
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