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Mastercard Q3 profit rises

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Published Thu, Oct 26, 2023 · 08:24 PM
    • The company reported a profit of US$3.2 billion, or US$3.39 per share, for the three months ended Sept 30, compared with US$2.5 billion, or US$2.58 per share, a year earlier.
    • The company reported a profit of US$3.2 billion, or US$3.39 per share, for the three months ended Sept 30, compared with US$2.5 billion, or US$2.58 per share, a year earlier. PHOTO: REUTERS

    MASTERCARD on Thursday (Oct 26) reported a rise in third-quarter profit, as consumer spent on travel and entertainment.

    The company reported a profit of US$3.2 billion, or US$3.39 per share, for the three months ended Sept 30, compared with US$2.5 billion, or US$2.58 per share, a year earlier.

    Wage growth has helped customers persist with their spending habits on travel, shopping and entertainment despite still high inflation.

    A growing belief that the US Federal Reserve can engineer a soft landing – a scenario where growth slows and inflation is brought under control without a recession – is also helping sentiment.

    Net revenue rose 14 per cent to US$6.5 billion. REUTERS

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