Mastercard Q4 results announced

Mastercard Inc. (NYSE: MA) announced the latest financial results for the previous quarter before the market open on Thursday.

World’s third largest financial services company beat both revenue and earnings per share (EPS) estimates for Q4 2022.

The company reported revenue of $5.817 billion vs. $5.793 billion estimate.

EPS at $2.65 per share in Q4 vs. $2.575 per share expected.

CEO commentary

”We closed out the year with strong financial results and notable wins which will help us capitalize on the tremendous secular shift to digital payments,” Michael Miebach, CEO of the company said in a press release.

”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’re encouraged by Asia opening up further. While macroeconomic and geopolitical uncertainty persists, consumer spending has been remarkably resilient. We are well prepared to adjust our investment profile quickly if needed,” Miebach concluded.

Stock reaction

Share price of Mastercard dipped by around 2% on Thursday, trading at around $374 a share.

Stock performance

• 1 month: +7.91%
• 3 months: +17.65%
• Year-to-date: +8.06%
• 1 year: +7.19%

Mastercard stock price targets

• Baird: $410
• Barclays: $427
• Truist Securities: $450
• Jefferies: $430
• Keybanc: $425
• UBS: $441
• Wells Fargo: $405
• Mizuho: $380
• Morgan Stanley: $437

Mastercard is the 19^th largest company in the world with a market cap of $363.31 billion.

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Sources: Mastercard Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap