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MasterCard’s Q2 Profit Surges 35%, Easily Beating View (MA)

Credit card issuer MasterCard Incorporated ( MA ) on Wednesday posted much higher-than-expected second quarter earnings, driven by a sharp uptick in transaction volume.

The Purchase, NY-based company reported second quarter net income of $608 million, or $4.76 per share, compared with $458 million, or $3.49 per share, in the year-ago period.

Net revenue jumped 21% from last year to $1.67 billion.

On average, Wall Street analysts expected a much smaller profit of $4.22 per share on much lower revenue of $1.55 billion.

MasterCard shares rose $8.51, or +2.9%, in premarket trading Wednesday.

The Bottom Line

Shares of Mastercard ( MA ) have a .20% dividend yield, based on last night's closing stock price of $298.49. The stock has technical support in the $280-$287 price area. If the shares can firm up, we see overhead resistance around the $310-$320 all-time high levels.

MasterCard Incorporated ( MA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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