Mastercard Inc (NYSE:MA) topped estimates in its third-quarter results as purchase and dollar volume jumped double digits.
The financial services giant reported earnings of $1.78 per share on revenue of $3.9 billion compared with $1.34 on revenue of $3.4 billion in the previous year’s third quarter.
READ: Visa reports slight beat in EPS for fiscal 4Q and guides for revenue growth in 2019
The New York-based company beat Wall Street estimates of $1.68 EPS on revenue of $3.4 billion.
Purchase volume in the quarter was up 15%, while dollar value jumped 13% to $1.5 trillion.
“Our business wins and new partnerships, strengthened by our differentiated services offerings, are helping drive our global momentum. We are continuing to invest for the long term with a focus on secure and convenient solutions that will help us grow our core business and address new payment flows,” said CEO Ajay Banga in the company’s press release.
Shares of Mastercard were up more than 2% to $195.50 in Tuesday pre-market trading.
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee