Reported 26 days ago
Mastercard Inc. reported higher-than-expected profits for the third quarter, with adjusted earnings per share reaching $3.89, exceeding analyst forecasts of $3.73. The company experienced an 11% increase in global purchase volume, driven by a surge in cross-border transactions. CEO Michael Miebach attributed the results to robust consumer spending and demand for their services, revealing expectations of low teens revenue growth in the upcoming quarter. Additionally, Mastercard plans to streamline operations by cutting 3% of its workforce, amidst a $190 million pretax charge for this restructuring.
Source: YAHOO