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MasterCard rises 1.7% in pre-market trade after Q2 earnings beat

Published 07/31/2014, 08:05 AM
Updated 07/31/2014, 08:05 AM
MasterCard reports better than expected Q2 earnings, revenue

Investing.com - Mastercard (NYSE:MA) saw shares rally nearly 2% in pre-market trade on Thursday, after reporting better-than-expected second quarter earnings and revenue ahead of the opening bell.

MasterCard said earnings per share came in at 80 cents in the second quarter, above expectations for earnings of 77 cents per share.

The credit card giant’s second quarter revenue totaled $2.38 billion, beating forecasts for revenue of $2.31 billion.

Operating income for the second quarter of 2014 increased 13% over the year-ago period and the company delivered an operating margin of 58.2%.

“We are pleased with another quarter of solid performance, driven by healthy volume and revenue growth,” said Ajay Banga, president and CEO, MasterCard.

Following the release of the report, Mastercard (NYSE:MA) shares rose 1.7% in pre-market trade.

Meanwhile, U.S. equity markets pointed to a lower open. The Dow indicated a loss of 0.5%, the S&P 500 pointed to a decline of 0.5%, while the Nasdaq 100 indicated a drop of 0.6%.

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