Mastercard reported stronger-than-expected third-quarter results Thursday as consumer spending, international transactions and demand for payment-related services continued expanding.
Net revenue increased 14% from a year earlier to $9.81 billion. Adjusted net income rose 17% to approximately $4.7 billion, while adjusted earnings reached $5.31 per share.
Gross dollar volume increased 7% on a local-currency basis to approximately $3 trillion, while purchase volume rose 9%.
Cross-border volume increased 11%, an important indicator for international travel and commerce, while switched transactions increased 9%.
Mastercard’s business outside its core payment network continued growing faster than traditional transaction processing.
Revenue from value-added services and solutions increased 19%, reflecting demand for areas including fraud prevention, cybersecurity, analytics and other payment technologies. Payment-network revenue increased 11%.
The company had approximately 3.8 billion Mastercard and Maestro-branded cards in circulation at the end of September.
The results provide another signal that consumer spending remains resilient despite elevated interest rates and inflation.
They also show why payment companies are expanding beyond transaction processing. Services tied to security, data and digital commerce provide additional growth opportunities as payments become increasingly electronic and cross-border.
Investors will watch whether consumer spending remains durable through the holiday quarter and whether higher borrowing costs begin slowing transaction growth.
