7/30/2020, 2:04 PM (Source: TeleTrader)
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Mastercard tops estimates with revenue of $3.3B in Q2

Mastercard Incorporated reported on Thursday that its revenue amounted to $3.3 billion in the second quarter of 2020, marking a 19% drop from the same period in 2019 but still coming in above market estimates.

Net income dropped 31% year on year to $1.4 billion, or $1.41 per diluted share. Meanwhile, operating income slid 29% to 1.7 billion and operating expenses were down 5% to $1.6 billion.

"Our platform uniquely positions us to support the shift to digital across consumer and business payments that has been accelerated by the COVID-19 pandemic, including an increase in consumers’ preference for contactless payments," CEO Ajay Banga stated.

Mastercard shares added 1.54% in premarket trading on better-than-expected results.

Breaking the News / NP