MasterCard reported its first quarter financial results this morning, posting an EPS of $5.36, beating estimates of $5.30 a share.
Revenue for the quarter rose 17% year over year to $1.8 billion, also beating consensus estimates of $1.73 billion.
The company also reported that processed transactions increased 29% to 7.7 billion.
Ajay Banga, MasterCard president and chief executive officer commented on the earnings, “We had a good start to the year with solid first quarter results driven by an increase in processed transactions, the highest quarterly growth rate since our IPO, as well as positive volume growth in all regions as consumers continue to adopt electronic payments. We are leveraging opportunities around the world. In the U.S., we have significantly improved our position in debit and now have the capability to process transactions on about half of all U.S. debit cards. Outside of the U.S., the acquisitions of DataCash and Access Prepaid Worldwide are delivering growth, both showing roughly 25% operational increases.”
Even with these positive earnings though, MasterCard is down 1.75% to $448.24 in earning morning trading.