Mastercard Inc (NYSE:MA) has outdone expectations for the third quarter as “healthy consumer spending” helped drive payment volumes.
Revenue increased by 13% to $7.4 billion, while earnings climbed by 15% to $3.89 per share, Mastercard reported on Thursday.
Analysts had been expecting revenue of $7.26 billion and per-share earnings of $3.74.
Gross dollar volumes, reflecting payments on its cards, climbed by 10% on a local currency basis to $2.5 trillion, Mastercard said.
“These results reflect healthy consumer spending and ongoing solid demand for our value-added services and solutions,” chief executive Michael Miebach commented.
Revenue from value-added services climbed by 19%, driven by strong demand for the likes of consulting and marketing services, fraud and security solutions, as well as pricing.
“We continue to invest in our suite of differentiated services to grow our addressable market, protect the ecosystem and add value in every transaction,” Miebach added.
“This includes the planned acquisitions of Recorded Future and Minna Technologies, which are expected to add leading AI-powered threat intelligence and subscription management capabilities to meet the needs of our customers.”
Shares climbed 1.2% in pre-market trading.