Mastercard Shares Touch All-Time High After Strong 4Q
Shares of Mastercard touched an all-time high after the credit card giant posted higher-than-expected earnings and revenue for the final quarter of 2023.
From the Equity Insider archive. This article dates from Jan 31, 2024 and is preserved as first published.
Shares of Mastercard touched an all-time high after the credit card giant posted higher-than-expected earnings and revenue for the final quarter of 2023.
The stock jumped to $462 after the market opened, its highest level on record, according to FactSet. Shares are up 5% from where they started the year.
The stock jumped to $462 after the market opened, its highest level on record, according to FactSet.
Mastercard’s fourth-quarter profit jumped to $2.79 billion from $2.53 billion last year, while per-share adjusted earnings, which strip out one-time items, of $3.18 topped analyst projections by 10 cents, according to FactSet.
Revenue rose to $6.55 billion from $5.82 billion in the year-ago quarter, above analyst forecasts for $6.48 billion.
Chief Executive Michael Miebach said healthy consumer spending and a 24% jump in cross-border volume growth drove Mastercard’s higher profit and revenue.
