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Mastercard profit jumps 36% on vaccine-fueled spending boost

Reuters2021-07-29

July 29 (Reuters) - Mastercard Inc reported a second-quarter profit on Thursday that comfortably beat estimates, helped by an improvement in overall spending and a recovery in cross-border volumes.

Mastercard shares rose 1.7% in premarket trading.

Card companies have benefited from a rise in spending volumes as speedy vaccination programs and a drop in the number of COVID-19 infections allowed governments to lift pandemic-induced lockdowns.

Net income, excluding exceptional items, rose to $1.9 billion, or $1.95 per share, from $1.4 billion, or $1.36 per share a year earlier.

Analysts on average had expected a profit of $1.75 per share, according to Refinitiv IBES data.

Mastercard's cross-border volumes, which tracks spending on its cards beyond the country of issue, rose 58% on a local currency basis, driven by a pickup in international travel.

Volumes had dropped 45% in the same period a year ago.

"International travel is still in the early stages of recovery and represents additional upside potential," Chief Executive Officer Michael Miebach said in a statement.

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Comment16

  • sreekumar
    ·2021-07-31
    Share price didn’t really move up
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  • Willretard8
    ·2021-07-30
    $MasterCard(MA)$36% but 1.5% premkt? Retailors love exciting stocks instead
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  • Viboon
    ·2021-07-30
    International travel is still in the early stages of recovery and represents additional upside potential
    Reply
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  • Hkh
    ·2021-07-30
    Great
    Reply
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  • Alex1709
    ·2021-07-30
    Good news
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    • JeremyKok
      is it time to buy now?
      2021-07-30
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  • Jadewu
    ·2021-07-29
    Great 
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  • Rickyt089
    ·2021-07-29
    MasterCard outperform in payment industry
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  • Raman8889
    ·2021-07-29
    Good to buy now
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  • Hibiki Anne
    ·2021-07-29
    ?
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  • Dcagency
    ·2021-07-29
    From the amt of online order I did… can expect this kind of results!! [LOL] 
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  • Lucky03
    ·2021-07-29
    Hope more can travel freely soon. Like please.
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    • BettyT
      Agree!!!!
      2021-07-29
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    • KS_Lee
      [强]
      2021-07-29
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  • fysx49
    ·2021-07-29
    Good
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    • YIPKF
      Great
      2021-07-29
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  • HollandJun
    ·2021-07-29
    Great
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  • AgentW
    ·2021-07-29
    Just so hard to get a chance to buy this!!!
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    • JeremyKok
      what is a good price to buy?
      2021-07-30
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  • Scam
    ·2021-07-29
    Jsjsj
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  • SimaWuqin
    ·2021-07-29
    Hehe hehe
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