Mastercard reported a higher fourth-quarter profit on Thursday as a resilient economy encouraged consumers to ramp up spending during the holiday season, sending the company’s shares up 2% before the bell.
Mastercard reported a higher fourth-quarter profit on Thursday as a resilient economy encouraged consumers to ramp up spending during the holiday season, sending the company’s shares up 2% before the bell.
U.S. retail sales rose 3.8% between Nov. 1 and Dec. 24, as intense promotion to drum up sales in what was expected to be a highly competitive holiday season for retailers prompted last-minute shopping among consumers.
Mastercard’s second-quarter profit rose as customers kept up spending heavily via its cards, the payments giant reported on Wednesday.
Visa and Mastercard will extend caps on tourist card fees agreed five years ago with EU antitrust regulators by another five years to 2029, the European Commission said on Friday.
Mastercard reported first-quarter profit that exceeded Wall Street expectations on Wednesday, on higher card spending by U.S. consumers despite rising borrowing costs and persistent inflation.
Payments processor Mastercard on Wednesday reported an 11% jump in fourth-quarter profit, driven by resilient consumer spending during the holiday season as labor markets remained strong and fears of a recession eased.
Mastercard stock was rising after the company announced a dividend increase and a new buyback program
Italy’s second-largest bank UniCredit said on Friday it had entered into an enlarged payments partnership with Mastercard.