Mastercard (NYSE:MA) Q2 results beat on the top and bottom lines, fueled by a resilient consumer and continuing growth in travel in the wake of the pandemic.
“Cross-border travel volume showed strong growth again this quarter, reaching 154%1 of pre-pandemic levels,” said CEO Michael Miebach.
Q2 adjusted EPS of $2.89, topping the $2.83 consensus, increased from $2.80 in the previous quarter and from $2.56 in the year-ago period.
Q2 gross dollar volume of $2.27T rose from $2.11T in Q1.
Cross-border volume growth of 24% Y/Y, local currency basis, compared with 35% Y/Y in the previous quarter.
Switched transactions rose 17% Y/Y, accelerating from the +12% pace in Q1.
Looking past Q2, for July-to-date, switched transactions rose 16%, the same as in June, and cross-border travel rose 22%, up from 21% in June.
Q2 adjusted operating expenses of $2.6B vs. $2.4B in Q1 2023 and $2.3B in Q2 2022.
Q2 adjusted operating margin of 58.6% vs. 58.2% in Q1 and 57.9% in the year-ago quarter.
Q2 net revenue of $6.3B, vs. the $6.17B consensus, rose from $5.75B in the previous quarter and $5.5B in the year-ago period.
Conference call at 9:00 AM ET.
Earlier, Mastercard (MA) non-GAAP EPS of $2.89 beats by $0.06, revenue of $6.3B beats by $130M
More on Mastercard:
Mastercard Q2 earnings beat consensus, bolstered by robust consumer
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