MasterCard has registered a net income of $1.5bn, or $1.41 per diluted share, for the first quarter of 2018, an increase of 38% compared to $1.1bn, $1 per diluted share, a year ago.
For the quarter ended 31 March 2018, the company’s net revenue was $3.6bn, a surge of 31% compared to $2.7bn in the corresponding year ago period.
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Operating income rose 21% year-on-year $1.8bn while total operating expenses surged 43% to $1.8bn from $1.2bn.
In addition, the company experienced 17% and 21% surge in switched transactions and cross-border volumes on a local currency basis, respectively.
As of 31 March 2018, the company’s customers had reportedly issued 2.4 billion Mastercard and Maestro-branded cards.
Mastercard president and CEO Ajay Banga said: “We’re off to a very strong start to the year, with record revenue and earnings this quarter, as we continue to execute against our strategy.
“We are investing in areas such as safety and security and our digital solutions to drive long-term growth, with a focus on delivering simple and secure transactions across all channels.”
