Mastercard 3Q Top, Bottom Lines Fall Short of Estimates
October 28 2020 - 8:44AM
Dow Jones News
By Allison Prang
Mastercard Inc.'s adjusted earnings and revenue for the third
quarter were short of analysts' consensus estimates as cross-border
volume fell by more than a third.
Mastercard logged $1.51 billion in profit and said earnings were
$1.51 a share. That compares with a year ago when net income was
$2.11 billion, or $2.07 a share, at the credit-card company.
Adjusted earnings were $1.60 a share. According to FactSet,
analysts were expecting $1.65 a share.
Net revenue was $3.84 billion and fell 14% from a year ago.
Analysts were expecting $3.95 billion.
Gross dollar volume, which is the value of card transactions,
rose 1.2% on a local-currency basis. The company said cross-border
volume on a local-currency basis tumbled 36%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 28, 2020 08:29 ET (12:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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