Mastercard's profit beats estimates on resilient consumer spending

Mastercard reported a robust third-quarter profit, surpassing estimates with an earnings-per-share of $3.89 against the expected $3.74. Revenue grew 13% to $7.4 billion, driven by an 11% increase in payment network revenue and a 19% rise in value-added services, which comprised 37% of total revenue.

Cross-border volume, indicating travel spending, rose 18%, while switched volume grew 11%. Mastercard took a $190 million restructuring charge to streamline operations and focus on core areas.

CEO Michael Miebach credited “healthy consumer spending” and high demand for services. Shares rose 1.4% pre-market, with a 20% gain this year.