MasterCard has registered a net income of $1.5bn, or $1.41 per diluted share, for the first quarter of 2018, an increase of 38% compared to $1.1bn, $1 per diluted share, a year ago.
For the quarter ended 31 March 2018, the company’s net revenue was $3.6bn, a surge of 31% compared to $2.7bn in the corresponding year ago period.
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Operating income rose 21% year-on-year $1.8bn while total operating expenses surged 43% to $1.8bn from $1.2bn.
In addition, the company experienced 17% and 21% surge in switched transactions and cross-border volumes on a local currency basis, respectively.
As of 31 March 2018, the company’s customers had reportedly issued 2.4 billion Mastercard and Maestro-branded cards.
Mastercard president and CEO Ajay Banga said: “We’re off to a very strong start to the year, with record revenue and earnings this quarter, as we continue to execute against our strategy.
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By GlobalData“We are investing in areas such as safety and security and our digital solutions to drive long-term growth, with a focus on delivering simple and secure transactions across all channels.”
