Mastercard Q1 Earnings Up 25% Stock Down $11 in Premarket Trading
Mastercard (MA) Q1 Earnings Up 25% Stock Down $11 in Premarket Trading Video. In this live pre-market trading video, we'll highlight how MA was down $11-$12 in pre-market. Immediately after highlighting the buying opportunity the stock jumped from $444 to $454.87 a $10 move.
MasterCard's first-quarter profit rose 25 percent on a big spike in card use overseas.
The Purchase, N.Y.-based payments processor said Wednesday that its net income was $682 million, or $5.36 per share, on revenue of $1.8 billion. That exceeded Wall Street's expectations of a profit of $5.29 per share, on revenue of $1.73 billion.
Purchase volume, the amount people spent on debit and credit cards with MasterCard logos, rose 17 percent worldwide.
Ajay Banga, MasterCard's chief executive officer, said it was the company's highest quarterly growth rate since its IPO.
In the last couple of years, MasterCard has focused on expanding its international business by acquiring an international card processing system called DataCash and a global prepaid travel card manager called Access Prepaid Worldwide.
Both of those acquisitions have paid off in the quarter, contributing to a 25 percent growth, said Banga.
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