Mastercard Exceeds Q3 Earnings Expectations with $7.4B Revenue, $3.89 EPS, and 17% Cross-Border Volumes

Oct 31, 2024, 12:09 PM

Mastercard Inc. reported its Q3 2024 earnings, surpassing analyst expectations. The company achieved an adjusted EPS of $3.89, higher than the estimated $3.73. Revenue for the quarter reached $7.4 billion, exceeding the forecasted $7.27 billion. Key performance metrics included a 17% increase in cross-border volumes, compared to the expected 16.2%, and a purchase volume of $2.06 trillion, slightly above the anticipated $2.05 trillion. The company also reported a third-quarter net income of $3.3 billion and a diluted EPS of $3.53. Mastercard's market cap stands at $474.56 billion. Additionally, the company saw a 13% increase in net revenue, 12% increase in operating expenses, 14% increase in EBIT, 12% increase in net income, and a 15% increase in EPS. Looking ahead, Mastercard projects Q4 revenue growth in the low teens and operating expenses at the high end of low-double-digits.