Published on 1 May 2024 on Zacks via Yahoo Finance
Mastercard Incorporated MA reported strong first-quarter 2024 results on the back of resilient consumer spending and solid cross-border volumes. Despite higher-than-average inflation and a high-interest rate environment, higher card spending by U.S. consumers continues to support MA’s results. An expanding payment network and value-added services and solutions also contributed to the quarterly results.
However, the upside was partly offset by an increase in operating expenses. Also, investors might worry about its revenue guidance cut. Furthermore, the recent appreciation of the U.S. dollar is expected to pose a challenge for foreign exchange, turning it into a headwind.