Mastercard profit jumps on rebound in cross-border spending

Published by
Reuters

(Reuters) – Mastercard Inc reported a jump in second-quarter profit on Thursday as a surge in cross-border spending sparked by this year’s travel boom more than offset higher costs. Profit for the three months ended June 30 was $2.3 billion, or $2.34 per share, compared with $2.1 billion, or $2.08 per share, a year earlier. Bottled-up demand and the easing of COVID-19 curbs have led to the strongest summer travel season since the start of the pandemic, a boon for companies like Mastercard and Visa Inc that can charge more for overseas transactions. Mastercard said cross-border volumes jumped 5…

Read More

Leave a Reply