Shares of Mastercard are 2.7% higher pre-market after reporting earnings and revenues that beat expectations. More importantly, the company highlighted that it wasn't seeing a slowdown from consumers.
Revenues of 7.00 billion compared to 6.85 billion expected and earnings were $3.59 vs $3.51 expected.
We delivered another strong quarter across all aspects of our business with double-digit net revenue and earnings growth,” said Michael Miebach, Mastercard CEO. “This was supported by continued healthy consumer spending, robust cross-border volume growth of 17%."
Purchase volume increased by 10% on a local currency basis and the numbers show a healthy appetite for travel. The regional breakdown shows positive GDV growth across all major regions, including the United States (6.4%), Europe (14.3%), Latin America (16.5%), and Canada (5.8%).
The company also does not see slowing ahead with 2024 revenue growth forecast in the 'low double digits'.
I'll keep an eye on the conference call for any macro headlines.
