Mastercard recorded 25% Growth of Net Income in 2023 Q2 Results

Mastercard (NYSE: MA) announced its 2023 Q2 financial results on July 27, 2023. According to the announcement, net revenue was up 14% (YoY, 3 months). Additionally, operating income and net income were up 21% and 25%, respectively. In contrast, growth of operating expenses still remains in single-digit growth, up 5% (YoY, 3 months).

As for Gross Dollar Volume (GDV), Europe recorded the highest growth of up 21% (USD, YoY, 3 months). This was followed by up 18% in Latin America. In contrast, Canada recorded the slowest growth of GDV of up 2%.

Net cash provided by operating activities was up 9% (YoY, 6 months). In addition, free cash flow was up 17%.

During the second quarter of 2023, Mastercard repurchased 6.5 million shares at a cost of $2.4 billion. Moreover, through the first half of 2023, Mastercard repurchased 14.4 million shares at a cost of $5.3 billion. 

Thanks to the steady growth in the company’s business performance as well as the stock repurchase program, the company’s stock price could grow steadily in the future.

Mastercard Incorporated (NYSE: MA) Stock Chart

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