Financial services provider Mastercard (NASDAQ:MA) has delivered a better-than-expected set of fourth-quarter numbers. Revenue rose by a robust 11.5% year-over-year to $5.8 billion, outperforming estimates by $10 million.
EPS at $2.65 too handily outpaced expectations by $0.07. During the quarter, the company’s gross dollar volume rose by 8% and purchase volume by 11%. Despite a challenging macroeconomic backdrop, Mastercard sees a continued recovery in cross-border travel and noted encouraging signs from Asia opening up.
Further, Mastercard bought back 7.4 million shares for a total of $2.4 billion and doled out dividends worth $473 million in Q4. The company still has $11.6 billion left under its share repurchase programs.
Overall, Wall Street has a consensus price target of $416.30 on Mastercard, implying an 8.87% upside potential, as indicated by the graphic above. That’s after a nnealry 11.4% price gain in Mastercard shares over past month.
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