Mastercard Inc (MA) Shares Pop on Earnings Beat

MA also beat revenue estimates

   

Mastercard Inc (NYSE:MA) stock was up on Tuesday following the release of its earnings report for the first quarter of 2017.

Revenue reported by Mastercard Inc in the first quarter of the year was $2.73 billion. This is an increase over its revenue of $2.45 billion from the same time last year. It also comes in above Wall Street’s revenue estimate of $2.65 billion for the quarter.

Mastercard Inc reported earnings per share of $1.01 for the first quarter of 2017. This is up from its earnings per share of 86 cents reported in the first quarter of 2016. It also beat out analysts’ earnings per share estimate of 95 cents for the first quarter of the year.

Operating income reported by Mastercard Inc in the first quarter of the year was $1.51 billion. The payment services company reported operating income of $1.35 billion during the same period of the year prior.

During the first quarter of 2017, Mastercard Inc reported net income of $1.08 billion. This is higher than the net income of $959 million that was reported by the company during the first quarter of the previous year.

“We continue to execute well against our strategy, and by completing the VocaLink acquisition, we can now offer an even greater set of payment options to our customers,” Ajay Banga, President and CEO of Mastercard Inc, said in a statement. “This deal redefines our opportunities and positions us favorably to capture new payment flows.”

MA stock was up 2% as of noon Tuesday and is up 15% year-to-date.


Article printed from InvestorPlace Media, http://investorplace.com/2017/05/mastercard-inc-earnings-ma/.

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