Mastercard beats Wall Street expectations

Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday.

The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion.

Earnings per share reported at $2.56 per share vs. $2.36 per share expected.

”We had strong revenue and earnings growth again this quarter, as overall consumer spending remained robust and cross-border volumes grew 58% versus year ago,” Michael Miebach, CEO of Mastercard said in a press release following the results.

”Increasing inflationary pressures have yet to significantly impact overall consumer spending but we will continue to monitor this closely. We have a well-diversified business model and the demonstrated ability to deliver strong operating margins through up and down cycles,” Miebach concluded.

Mastercard Incorporated (MA) chart

Shares of MasterCard were trading higher on Thursday after beating Wall Street expectations, up by around 1% at $348.50 per share.

Here is how the stock has performed in the past year:

• 1 Month +10.56%
• 3 Month -7.92%
• Year-to-date -2.92%
• 1 Year -10.29%

Mastercard Incorporated price targets

• JP Morgan $425
• Wells Fargo $400
• Piper Sandler $298
• Mizuho $375
• Truist Securities $420
• Barclays $430
• BMO Capital $402
• Morgan Stanley $452

Mastercard Incorporated is the 19^th largest company in the world with a market cap of $338.14 billion.

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Sources: Mastercard Incorporated, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap