Mastercard Inc on Tuesday beat quarterly profit and revenue estimates, as a stro...
- Mastercard Inc on Tuesday beat quarterly profit and revenue estimates, as a strong U.S. job market, rising wages and surge in online shopping boosted transaction volumes, sending shares of the world’s second largest payments processor to an all-time high.
The company’s gross dollar volume - dollar value of total transactions processed - rose 5.4 percent in the first quarter, with growth across all geographies. Retail sales in the U.S. rose to their highest in 1-1/2 years in March, according to data published earlier this month, with almost all sectors including autos, electronics, appliances and food and beverage registering growth.
Mastercard, like rival Visa, has been looking to digitization to drive its business and diversify its customer base. The company recently partnered with Apple Inc and Goldman Sachs for the Apple card, which can be accessed digitally on an iPhone.
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