Mastercard has reported a net income of $1.6bn, or $1.50 per diluted share, for the second quarter of 2018, a surge of 33% from $1.2bn, or $1.10 per diluted share, reported in the same period last year.
The company’s net revenue for the quarter ended 30 June 2018 was $3.7bn, a 20% jump compared to $3.1bn a year ago.
Operating income increased 17% year-on-year to $1.9bn, while total operating expenses rose 23% to $1.7bn from $1.4bn in the previous year.
In addition, the company recorded a 17% increase in switched transactions to 18.2 billion. Cross-border volumes were up 19% on a local currency basis.
The company’s customers issued 2.4 billion Mastercard as well as Maestro-branded cards as at 30 June 2018.
Mastercard president and CEO Ajay Banga said: “Our broad-based momentum continued this quarter as we delivered strong revenue and earnings per share growth. We continue to invest for the long term and are pleased with the progress we are making in expanding our customer relationships and advancing our secure digital solutions.
“We believe our strategy of providing choice to our customers positions us well to expand our core business and address new opportunities.”