tiprankstipranks
Mastercard (NYSE:MA) Drifts Lower on Q4 Numbers
Market News

Mastercard (NYSE:MA) Drifts Lower on Q4 Numbers

Story Highlights

Mastercard’s fourth-quarter performance was marked by robust deal momentum and healthy transaction volumes.

Mastercard (NYSE:MA) shares fell around 1% in the early session today after the payment solutions provider announced its results for the fourth quarter. Revenue increased by 13% year-over-year to $6.5 billion, exceeding expectations by $20 million. Further, EPS of $3.18 fared better than estimates by $0.10.

Don't Miss our Black Friday Offers:

During the quarter, gross dollar volume increased by 10%, and purchase volume increased by 11%. The company is witnessing robust deal momentum as cross-border volume remains buoyant. Further, its value-added services and solutions net revenue jumped by 19% due to strength in cyber and intelligence solutions.

Notably, Mastercard repurchased shares worth $9 billion in 2023. In addition, it bought back $586 million worth of shares quarter-to-date through January and had nearly $13.6 billion remaining under its share repurchase programs.

Is MA a Good Stock to Buy Now?

Overall, the Street has a Strong Buy consensus rating on Mastercard, and the average MA price target of $481.93 points to a modest 8.25% potential upside in the stock. That’s on top of a nearly 20% jump in the company’s share price over the past year.

Read full Disclosure

Related Articles
TheFlyKodak Retirement Income Plan Trust to sell some assets to Mastercard Foundation
TheFlyBNY Mellon to manage U.S. Department of the Treasury’s Direct Express
TheFlyMasterCard management to meet with Mizuho
Go Ad-Free with Our App