5 Companies Making Headlines Following Earnings Reports

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 144

Shares of Mastercard Incorporated (NYSE:MA) rose to a nearly two-month high on Thursday, April 28, 2022, after delivering solid profit and revenue for the first quarter. The financial services giant reported adjusted earnings of $2.76 per share, well above $1.74 per share in the first quarter of 2021.

In addition, Mastercard Incorporated (NYSE:MA) posted revenue of $5.2 billion, up 24 percent over the same period last year. The results exceeded the consensus of $2.17 per share for earnings and $4.91 billion for revenue.

Looking at the key growth indicators, Mastercard Incorporated (NYSE:MA) reported gross dollar volume growth of 17 percent and cross-border volume growth of 53 percent for the quarter. Among other updates, the company announced that it repurchased 6.8 million shares of its common stock during the quarter.

Speaking on the results, CEO Michael Miebach said in a statement:

“Russia’s invasion of Ukraine marked a somber start to 2022, as war returned to Europe for the first time in decades. Even in the context of this challenging geopolitical environment, we’re off to a strong start in 2022 with robust revenue and earnings growth as cross-border volumes grew 53% versus a year ago on a local currency basis. As of March, cross-border travel is above 2019 levels for the first time since the pandemic began, and ahead of our expectations.”