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Mastercard on the wave of growth in the world of payments

July, 31 2024
watermark Economic news

Mastercard Inc., the world's largest credit card company, has posted impressive financial results for the first half of 2024. 


The company's net profit increased by 20.4% year-on-year, reaching $6.269 billion, and diluted earnings per share increased by 22.8% to $6.72. Total revenue for January-June amounted to $13.309 billion, which is 10.8% more than last year. 


Positive trends continued in the second quarter: net income increased by 14.5% to $3.258 billion, and diluted earnings per share increased by 16.7% to $3.5. Revenue for this period amounted to $6.961 billion, exceeding analysts' forecasts, which expected $6.85 billion. 


Mastercard's success, according to the company's CEO Michael Mibach, is due to healthy consumer spending, steady growth in cross-border payments and demand for additional services of the company. 


Mastercard shares rose 3% in preliminary trading in the United States, indicating investor confidence in the company's future. As of June 30, 2024, Mastercard Inc. has issued 3.4 billion Mastercard and Maestro cards.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.