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MarketScreener Homepage  >  Equities  >  Nyse  >  MasterCard    MA

MASTERCARD

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Mastercard : Revenue Falls, Hurt by Pandemic

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07/30/2020 | 09:07am EDT

By Allison Prang

Mastercard Inc.'s revenue in the second quarter tumbled nearly 20% as the Covid-19 pandemic continued to weigh on business.

Mastercard's revenue was $3.34 billion, down 19% from a year earlier. The company's top line beat the consensus estimate from Wall Street of $3.25 billion, according to FactSet.

The revenue drop was in part from a slump in gross-dollar volume, or the value of card transactions, which fell 10% on a local currency basis. Also leading to the revenue decline was a drop in cross-border volume, which fell 45% on a local currency basis, and switched transactions, which fell 10%. Switched-transaction revenue comes from the company authorizing, settling or clearing transactions.

The company reported earnings for the quarter that ended in June of $1.42 billion, or $1.41 a share. Those earnings declined from a year earlier $2.05 billion, or $2 a share.

Adjusted earnings were $1.36 a share.

According to FactSet, Wall Street expected $1.16 a share.

The company recorded a $22 million litigation provision for the quarter. Those charges were related to fees and litigation settlements with merchants in the U.K. and pan-Europe, Mastercard said.

Visa Inc., which reported results earlier this week, also logged results that were heavily affected by the Covid-19 pandemic. The company saw a 10% drop in payments volume.

Write to Allison Prang at allison.prang@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
MASTERCARD 1.99% 338.39 Delayed Quote.13.33%
VISA 1.56% 200.32 Delayed Quote.6.61%
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Financials (USD)
Sales 2020 15 659 M - -
Net income 2020 6 593 M - -
Net Debt 2020 1 103 M - -
P/E ratio 2020 50,5x
Yield 2020 0,45%
Capitalization 332 B 332 B -
EV / Sales 2020 21,3x
EV / Sales 2021 17,8x
Nbr of Employees 18 600
Free-Float 62,6%
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Technical analysis trends MASTERCARD
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Mean consensus BUY
Number of Analysts 36
Average target price 356,45 $
Last Close Price 331,78 $
Spread / Highest target 25,1%
Spread / Average Target 7,44%
Spread / Lowest Target -18,0%
EPS Revisions
Managers
NameTitle
Ajaypal S. Banga Chief Executive Officer & Director
Michael E. Miebach President & Chief Executive Officer-Elect
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Sachin J. Mehra Chief Financial Officer
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