MA MasterCard Incorporated

By Allison Prang 

Mastercard Inc. is expecting its adjusted revenue and operating expenses to both rise at a slower pace in 2020.

The company said it expects adjusted revenue in 2020 to climb by a percentage in the low teens and for adjusted operating expenses to climb by a high single-digit percentage. In 2019, adjusted revenue rose 16%, while adjusted operating expenses rose 12%.

Mastercard's adjusted metrics adjust for items including currency changes.

In the fourth-quarter, net income at the company jumped to $2.1 billion, or $2.07 a share. Profit more than doubled from a year ago when Mastercard logged more than $750 million in litigation charges. Adjusted earnings were $1.96 a share, up from $1.55 a share.

Analysts had estimated earnings of $1.87 a share, according to FactSet.

Mastercard also recorded a net gain on its equity investments of $119 million in the fourth quarter.

Net revenue at the company was $4.41 billion, up 16%. Analysts were expecting $4.4 billion.

The volume of Mastercard's card transactions was $1.73 trillion, up 11%.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

January 29, 2020 12:27 ET (17:27 GMT)

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