It looks like another major credit card company is on the up after Mastercard posted its earnings today. Reuters reports that:
Shares rose 1.4 percent to $151 in premarket trading.
According to Reuters, the rise comes as a result of better than expected revenue and EPS:
EPS: $1.34 vs. $1.23 expected by analysts surveyed by Thomson Reuters.
Revenue: $3.4 billion vs. $3.28 billion expected in the Thomson Reuters survey.
After Visa posted strong results last week, its main competitor has shown its mettle. The company seems poised to continue growing in the future as well. In a statement reported by CNBC, Mastercard CEO Ajay Banga said:
“We are executing well on our strategy and are pleased to deliver another quarter of record results… As the world becomes more connected, we remain very focused on security. Our investments in technologies like biometrics, tokens, encryption and artificial intelligence are redefining the way both consumers and transactions are protected.”
In the wake of major data hacks, these developments should go a long way in boosting investor and user confidence in Mastercard’s services.
Investors should consider Mastercard for an investment as the company continues to grow revenue, service reach and its security infrastructure. All of these make the company an attractive target so be sure to do some research and decide if the stock is right for you.
To read Reuters’ article about Mastercard’s earnings, click here.
To read CNBC’s article on Mastercard’s earnings, click here.
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