Mastercard reported third-quarter earnings that beat estimates, on the back of higher credit card transactions.
The financial services company’s earnings for the three months ended in September increased to $2.07 a share, (vs. $1.82 a share in the year-ago quarter). Adjusted earnings rose to $2.15 per share. Analysts polled by FactSet had been expecting earnings of $2.01 a share.
Revenue of $4.5 billion exceeded analysts’ forecasts of $4.42 billion. The figure was also higher compare to the year-ago quarter’s $3.9 billion.
CEO Ajay Banga emphasized on the launch of “faster, more secure click-to-pay online checkout experience" as one of the key strengths of the company. Recently, the company also announced its Mastercard Track suite of B2B solutions.
Gross dollar value of all transactions processed came in at $1.7 trillion in the third quarter , climbing +14% from the year-ago period. Domestic dollar volume increased +12% year-over-year to $494 billion in the quarter. Mastercard’s gross dollar volume in Europe rose +16% to $507 billion,
During the third quarter, Mastercard repurchased around 6.4 million shares worth $1.8 billion, and paid out $335 million in dividends.