Mastercard reported robust third-quarter 2024 financial results, with net revenues reaching $7.37 billion, an increase of 13% year-over-year, or 14% on a currency-neutral basis. This performance surpassed analyst estimates of $7.27 billion, driven by healthy consumer spending and strong demand for its expanded service offerings.
Adjusted diluted earnings per share (EPS) rose 15% year-over-year to $3.89, exceeding the consensus estimate of $3.74. The Payment Network segment saw net revenue growth of 10% (11% currency-neutral), fueled by a 10% increase in gross dollar volume, a 17% rise in cross-border volume, and an 11% increase in switched transactions.
Value-added Services and Solutions contributed significantly, with revenue growing 19% and accounting for 37% of total revenue. The company also announced a restructuring plan during the quarter, incurring a $190 million charge related to workforce reductions aimed at streamlining operations and focusing on strategic areas. For the fourth quarter of 2024, Mastercard forecasts continued revenue momentum, anticipating growth in the low teens on a currency-neutral basis, excluding acquisitions.
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