Mastercard financial results for the third quarter (Q3) of 2019 showed a net income of $2.1bn, representing an 11% increase from $1.9bn in the corresponding quarter last year.
The card giant’s net revenue rose by 15% to $4.5bn for the quarter ended 30 September 2019. Acquisitions are said to have contributed one percentage point to this rise.
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In addition, Mastercard attributed the rise to 20% and 17% growth in switched transactions and cross-border volumes, respectively.
Gross dollar volume increased by 14% to $1.7 trillion, while other revenues surged by 33%. Data & Services and Cyber & Intelligence solutions also contributed to the growth, added Mastercard.
Adjusted operating expenses increased 15% on a year-on-year basis, including a three percentage point rise because of acquisitions and 13 percentage points increase due to strategic investments.
Mastercard noted that its customers had issued 2.6 billion Mastercard and Maestro-branded cards as of 30 September 2019.
Mastercard president and CEO Ajay Banga said: “We delivered another quarter of solid revenue and earnings growth as we execute on our strategy and invest for the long-term.
“We have recently expanded several keycustomer relationships, announced our Mastercard Track suite of B2B solutions and launched the faster, more secure click-to-pay online checkout experience.
“In addition, we are looking forward to enhancing our multi-rail reach and capabilities through the planned acquisition of Nets’ real-time payment and billing solutions.”
