fintech / news / / Bnn Bloomberg
Mastercard posted a jump in first-quarter profit on Thursday as resilient consumer spending ensured sustained transaction volumes on its network.
Mastercard's net income rose to $3.9 billion, up from $3.3 billion last year.
KEY POINTS
- A seven percent increase in gross dollar volume was reported by Mastercard this quarter.
- Net revenue for the quarter grew 16 percent to $8.4 billion for Mastercard.
- Wealthier households drove most discretionary spending, highlighting a pronounced K-shaped economic trend.
- Higher gasoline prices due to the Iran war could begin affecting other spending categories.
COMPANIES
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