Mastercard Inc. (MA) jumped 3.5% in trading Thursday after the credit card company reported a 15% increase in fourth-quarter revenue, matching analysts' expectations in the period.
Mastercard reported revenue of $3.8 billion and earnings of $1.55 a share. Analysts were expecting revenue of $3.8 billion on earnings of $1.53.
"We had a very strong end to the year, bringing 2018 to a record close, driven by broad-based growth across each of our regions," said Ajay Banga, Mastercard president and CEO. "These results reflect strong execution in growing our core business and driving new capabilities to improve the customer experience and enhance security across all transaction types. When you combine this with the strategic investments we've made for the long term, we are very well positioned for continued growth."
The company said revenue growth was driven by a 14% increase in gross dollar volume, and a 17% increase in pin debit transactions.
Fellow credit card company Visa Inc. (V) was down 2.2% in trading after the company announced better-than-expected earnings and revenue but lower-than-expected payments volume growth.
The financial services giant reported fiscal first-quarter adjusted net income of $3 billion, or $1.30 a share, an increase of 18% and 21%, respectively, from $2.52 billion and $1.07 a share in last year's first quarter. Analysts expected the company to earn $1.25 a share. Net revenue increased 13% to $5.5 billion from $4.86 billion last year.
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