Digital Payments Company MasterCard reported 20% jump in profits, beats Street estimates, backed by increased consumer spending in US and other countries. New York-based firm also benefitted from consumer spending outside US, as cross-border volumes increased 14%, which brings in more money to the company. US consumer spending has been healthy mainly due to labor market tightening and low inflation. Adjusted gross dollar volume (GDV) and purchase volume spiked up 9% for the quarter. As of June 30, 2017, MasterCard customers had issued 2.4 billion MasterCard and Maestro-branded cards. Check out the earnings highlights: http://ift.tt/2u1QxLP
Submitted July 27, 2017 at 09:56AM by JimRogers_FCA http://ift.tt/2uBdQPT
