By Dean Seal


Mastercard recorded higher earnings and revenue in the last quarter of 2023 as consumer spending remained elevated through the holiday season.

The credit card giant posted a profit of $2.79 billion, or $2.97 a share, compared with $2.53 billion, or $2.62 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $3.18 a share. Analysts polled by FactSet had been expecting $3.08 a share.

Quarterly revenue rose to $6.55 billion from $5.82 billion in the year-ago quarter, above analyst forecasts for $6.48 billion last year, according to FactSet.

Gross dollar volume was up 10% at $2.4 trillion during the quarter while purchase volume rose 11%.

Chief Executive Michael Miebach said the healthy consumer spending and a 24% jump in cross-border volume growth drove Mastercard's higher profit and revenue.

Total operating costs were up 21%.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

01-31-24 0834ET