Mastercard (NYSE:MA) reported first-quarter results that surpassed analyst expectations, driven by a 16% surge in revenue as international travel and a steady rise in domestic spending bolstered its global payments network.
The Purchase, New-York based company posted net revenue of $8.4 billion for the period ended March 31, reflecting a 12% increase on a currency-neutral basis.
The results underscore the continued strength of the upper-income consumer and a sustained recovery in cross-border transaction volumes.
Net income reached $3.9 billion, or $4.35 per diluted share.
On an adjusted basis, profit rose to $4.1 billion, with adjusted diluted earnings per share hitting $4.60.
The performance was supported by a 9% increase in purchase volume and a 7% rise in gross dollar volume on a local currency basis, highlighting a broad-based expansion in consumer activity across both essential and discretionary categories.