MasterCard Lowers Full-Year 2024 Expectations After Strong First Quarter. Despite a surprisingly good quarterly result, in which the credit card provider increased its profit by nearly 28 percent to around 3 billion US dollars and revenue grew by 10 percent to just over 6.3 billion dollars, the company now expects slower growth. MasterCard had previously forecasted growth at the higher end of the low double-digit percentage range, but now anticipates an increase at the lower end of this range for the full year 2024.
In the previous year, MasterCard generated $25.1 billion (approximately €23.5 billion) in revenue. For the current second quarter, the company from Purchase, New York, expects revenue growth in the high single-digit percentage range.
The market reaction was mixed: MasterCard's stock temporarily lost 1.02 percent in Wednesday trading on the New York Stock Exchange and was quoted at 446.65 US dollars. This suggests that investors are disappointed by the more cautious annual forecast, despite the strong performance in the first quarter.
