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Mastercard Inc Shares Surge Following Q1 Earnings Beat

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Mastercard Inc is starting the year off well with its earnings per share of $1.50 for the first quarter of 2018. This is better than the company’s earnings per share of $1.01 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.25 for the quarter and is a boon to MA stock.

Net income reported by Mastercard Inc in the first quarter of 2018 was $1.49 billion. The financial services company reported net income of $1.08 billion in the first quarter of the previous year.

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During the first quarter of the year, Mastercard Inc also reported operating income of $1.83 billion. Operating income reported by the company in the same period of the year prior came in at $1.51 billion.

Mastercard Inc’s earnings report for the first quarter of 2018 also includes strong revenue of $3.58 billion. This is an improvement over its revenue of $2.73 billion that was reported in the first quarter of 2017. It is also good news for MA stock by coming in above analysts’ revenue estimate of $3.25 billion for the period.

Mastercard Inc notes that one of the benefits to its earnings report for the first quarter of the year was a tax rate of 17.3%. This is down from its tax rate of 26.9% for the first quarter of the year prior. The company says this was due to the change to tax laws in the U.S.

MA stock was up 3% as of Wednesday afternoon.

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As of this writing, William White did not hold a position in any of the aforementioned securities.


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