- MasterCard, a major name in the payment’s world, said that its profits in the fourth quarter of last year saw a rise of 6% on an annual basis.
- In terms of revenue, this was up by well over 10% on an annual basis and reached $5.8bn, the company said – something it put down to cross-border payments spikes.
- “While macroeconomic and geopolitical uncertainty persists, consumer spending has been remarkably resilient. We are well prepared to adjust our investment profile quickly if needed,” said a senior figure at the company.
MasterCard, a major corporate name in the international money transfer sphere, has confirmed that it has seen a rise in its profits of 6% on an annual basis.
Overall, its profits went up to $2.5bn in the year's final three months. A rise from quarter to quarter, however, did not materialise.
The company also shared other positive news during its update. Across the whole of 2002, its net income went up by 14%. This figure hit almost $10bn. Total sales, meanwhile, were well over $22bn, having increased by 18%.
Mastercard CEO Michael Miebach said there had been some “notable wins” throughout the year.
“We closed out the year with strong financial results and notable wins, which will help us capitalise on the tremendous secular shift to digital payments,” he said.
He went on to say that the “broader economy” provided opportunities for the firm – including when it came to international travel.
“As we look at the broader economy, we see the continued recovery of cross-border travel, with volumes up 59 % versus a year ago, and we are encouraged by Asia opening up further,” he explained.
In further remarks, he pointed out that there was uncertainty globally at the current time.
“While macroeconomic and geopolitical uncertainty persists, consumer spending has been remarkably resilient. We are well prepared to adjust our investment profile quickly if needed,” he said.
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