Mastercard shares slide as first-quarter revenue misses forecasts, updates guidance

Mastercard (NYSE: ) shares edged down 3.2% after the company reported lower-than-expected fiscal first-quarter revenue and operating margins.

The payments processing giant reported first-quarter earnings per share (EPS) of $3.31, beating the consensus estimate of $3.24. However, the company's revenue of $6.3 billion was slightly below expectations of $6.34 billion.

Operating margin for the quarter was 56.8%, below expectations of 58.3%.

The total was also lower than expected, totaling $2.29 trillion compared with forecasts of $2.32 trillion.

Looking ahead, Mastercard now expects second-quarter net income to reach the high end of high-single-digit growth.

Full-year net income growth is expected to be in the low double digits.

“Our momentum continued this quarter, with healthy consumer spending driving strong revenue and earnings growth, cross-border transaction volume increasing 18% year-over-year, and new wins in every region,” said Michael Miebach, CEO of trade.

“We are driving the growth of electronic payments through innovative technologies like scaling tokenization. That’s why people choose Mastercard – because it’s a simple, seamless and secure way to pay.

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