Mastercard Q4 results show a net income of $899m for the fourth quarter of 2018, a surge of almost 300% compared to $277m a year ago.
For the quarter ended 31 December 2018, the company’s net revenue increased to $3.8bn from $3.31bn in the fourth quarter of 2017. The rise in revenue was primarily attributed to 17% surge in switched transactions and 14% increase in gross dollar volume.
Mastercard Q4 results
The payment technology firm’s operating income during the quarter increased to $2.57bn from $1.8bn in the corresponding year ago period.
The company’s customers had issued 2.5 billion Mastercard and Maestro-branded cards as of 31 December 2018.
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Commenting on the performance, Mastercard president and CEO Ajay Banga said: “We had a very strong end to the year, bringing 2018 to a record close, driven by broad-based growth across each of our regions.
“These results reflect strong execution in growing our core business and driving new capabilities to improve the customer experience and enhance security across all transaction types. When you combine this with the strategic investments we’ve made for the long term, we are very well positioned for continued growth.”