The global card network giants Visa and Mastercard reported quarterly financial results on Wednesday. Visa reported better than financial results compare to Mastercard but the revenue declines for both companies resulted from a lack of higher fees for cross-border transactions, as global travel remains limited. Mastercard reported a 36% YoY drop in cross-border transactions while Visa reported a 29% YoY decline.
Mastercard (NYSE: MA) reported weaker-than-expected third-quarter financial results before the markets opened on Wednesday.
- Earnings per share: $1.60 vs. $1.65 expected
- Revenue: $3.8 billion vs. $3.95 billion expected
Visa Inc (NYSE: V) reported better-than-expected fourth-quarter financial results on Wednesday. The company Q4 revenue decline to $5.10 billion from $6.14 billion a year prior.
- Earnings per share: $1.12 vs. $1.09 expected
- Revenue: $5.1 billion vs. $5.01 billion expected
Mastercard shares closed more than 8% lower on Wednesday after weaker-than-expected financial results. While Visa shares rebounded 1% in after-hours trading after declining 4.8% in the regular session following higher-than-expected revenue for its fiscal fourth quarter.
Read more- https://gulfbrokers.com/en/mastercard-vs-visa-earnings-review