Credit Card Juggernaut MasterCard's Stock Tanks Despite Q3 Beat
Portfolio Pulse from Lekha Gupta
Mastercard Inc (NYSE:MA) reported Q3 FY23 results with net revenues of $6.53 billion, beating the consensus of $6.52 billion. The company saw growth in payment network net revenue, value-added services, and solutions net revenue. Adjusted EPS rose 26% Y/Y to $3.39, exceeding the consensus of $3.21. Despite the positive results, MA shares are trading lower, down 5.21% at $366.18.
October 26, 2023 | 2:24 pm
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Despite reporting strong Q3 FY23 results, Mastercard's shares are trading lower.
Mastercard reported strong Q3 FY23 results, beating consensus estimates for both net revenues and adjusted EPS. However, despite these positive results, the company's shares are trading lower. This could be due to market factors or investor sentiment that are not directly related to the company's performance.
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