NEW YORK (TheStreet) -- MasterCard (MA) - Get Report stock is tumbling 2.42% to $92.86 in Wednesday's pre-market trading after the company reported its fiscal 2015 second quarter earnings results before the market open today.
For the recent quarter, the credit card company earned 85 cents per share on revenue of $2.39 billion.
Analysts had expected the company to earn 85 cents per share on revenue of $2.41 billion for the quarter ended June 30.
In the same period the previous year, the company earned 80 cents per share on revenue of $2.37 billion.
"Our business continues to perform well with good transaction and volume growth, particularly in cross-border, despite the mixed global economic environment and foreign exchange headwinds," CEO Ajay Banga stated.
Net revenue growth was driven by an increase in cross-border volumes of 17%, an rise in gross dollar volume of 13%, and a growth of processed transactions of 13%. However, these factors were partially offset by a rise in rebates and incentives, the company said.
On Tuesday, shares closed up 0.82% to $95.16.
Separately, TheStreet Ratings team rates MASTERCARD INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MASTERCARD INC (MA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: MA Ratings Report