:Mastercard Inc beat quarterly profit expectations on Thursday as domestic spending through its cards rose and cross-border volumes grew following an uptick in international travel.
Gross dollar volumes, which represents the dollar value of the transactions processed, jumped 23per cent to $2.1 trillion from a year earlier. Cross border volumes, a key metric that track card spending beyond the country of issue, rose 53per cent. Operating expenses, however, rose 16per cent from a year earlier to $2.4 billion, dragging shares down 1.35per cent to $340.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mastercard profit beats on spending, travel revivalMastercard reported a quarterly profit above analysts\u0027 estimates on Thursday (Jan 27), as a rise in domestic spending and growth in cross-border volumes following an uptick in international travel drove higher transactions through its cards. Over the past quarter, vaccination programs across the world gain
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Rising costs, pandemic curbs take a bite out of McDonald's profit:McDonald's Corp missed revenue and profit expectations on Thursday, as higher costs and dismal sales in its over 4,500 restaurants in Australia and China due to pandemic-led curbs ate into gains from growth in the United States in the fourth quarter.Operating costs rose 14per cent to $3.61 billion as supply
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Oil falls on profit-taking after Brent surges to $90 a barrelBEIJING : Oil prices fell on Thursday as investors cashed in profits from the 2per cent gains in the previous session after the U.S. Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets. Futures pulled back amid a broader decline in financia
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
IG Group reports slower rise in interim profit as market volatility easesOnline trading platform IG Group on Thursday reported a slower growth in half-yearly profit and said it added fewer new active clients than in the previous year, as market volatility spurred in part by the COVID-19 pandemic eased.The London-listed firm posted a single-digit rise in pre-tax profit to 245.2
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
AO World reviews German business amid rising costs, increased competitionBritish electricals retailer AO World said on Thursday it has launched a review of its German business due to increased competition and rising costs, while online activity returns to pre-pandemic levels.The online retailer, which sells laptops, washing machines, mobile phones and printers, said its curren
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »