Have you been eager to see how Mastercard Inc. (MA - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this leading financial services company’s earnings release this morning.
An Earnings Beat
Mastercard earnings per share of $1.34 beat the Zacks Consensus Estimate of $1.23 and grew 23% year over year.
Better-than-expected earnings were primarily due to higher switched transactions, increase in cross border volume and the gains from acquisitions, partly offset by increase in rebates and incentives.
How Was the Estimate Revision Trend?
The earnings estimate revisions for Mastercard did not show any change prior to the earnings release. But the same has increased 0.2% over the past 30 days.
Before posting earnings beat in Q3, the company delivered positive surprises in each of the last four quarters.
As a result, the company overall surpassed the Zacks Consensus Estimate by an average of 6.2% in the trailing four quarters.
Revenue Surpass Estimates
Mastercard revenues of $3.4 billion, exceeded the Zacks Consensus Estimate of $3.29 billion and was up 18% year-over-year.
Key Stats to Note
The company reported a 10% year-over-year increase in gross dollar volume to $1.4 trillion.
The company also witnessed an increase of 15% in cross-border volumes on a local currency basis.
Adjusted operating expenses increased 19% year over year to $1.5 billion.
What Zacks Rank Says
Mastercard carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here).
How the Market Reacted So Far
Mastercard’s shares were up nearly 1.4% in the pre-trading session. While the initial reaction shows that the investors have taken the results in their favor, the full-session’s price movement will provide a clear picture.
Check back later for our full write up on this Mastercard earnings report!
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Have you been eager to see how Mastercard Inc. (MA - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this leading financial services company’s earnings release this morning.
An Earnings Beat
Mastercard earnings per share of $1.34 beat the Zacks Consensus Estimate of $1.23 and grew 23% year over year.
Better-than-expected earnings were primarily due to higher switched transactions, increase in cross border volume and the gains from acquisitions, partly offset by increase in rebates and incentives.
How Was the Estimate Revision Trend?
The earnings estimate revisions for Mastercard did not show any change prior to the earnings release. But the same has increased 0.2% over the past 30 days.
Before posting earnings beat in Q3, the company delivered positive surprises in each of the last four quarters.
As a result, the company overall surpassed the Zacks Consensus Estimate by an average of 6.2% in the trailing four quarters.
Revenue Surpass Estimates
Mastercard revenues of $3.4 billion, exceeded the Zacks Consensus Estimate of $3.29 billion and was up 18% year-over-year.
Key Stats to Note
The company reported a 10% year-over-year increase in gross dollar volume to $1.4 trillion.
The company also witnessed an increase of 15% in cross-border volumes on a local currency basis.
Adjusted operating expenses increased 19% year over year to $1.5 billion.
What Zacks Rank Says
Mastercard carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here).
How the Market Reacted So Far
Mastercard’s shares were up nearly 1.4% in the pre-trading session. While the initial reaction shows that the investors have taken the results in their favor, the full-session’s price movement will provide a clear picture.
Check back later for our full write up on this Mastercard earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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