Reported 3 months ago
Mastercard reported a second-quarter profit of $3.3 billion, exceeding estimates as consumer spending remained strong despite rising interest rates. The company's transaction volumes increased significantly, with a 10% rise in switched volume and a 17% spike in cross-border transactions. This uptick indicates a resilient consumer base, even as some peers in the payment industry reported slower growth among lower-income customers. Mastercard's shares reacted positively, gaining nearly 3% before market opening.
Source: YAHOO