By Allison Prang 

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

The company affirmed it is expecting adjusted revenue in 2020 to climb by a percentage in the low teens and said also it expects 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.

Mastercard's revenue guidance is on par with the three-year guidance the company gave a year ago, calling for compound annual revenue growth in a low-teens percentage from 2019 through 2021.

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 13:55 ET (18:55 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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