Mastercard Incorporated (MA) Delivers Strong Q3 Results with Solid Growth Across Key Metrics

Mastercard Incorporated (NYSE:MA) is one of the best stocks to invest in, according to billionaire D.E. Shaw. On October 30, Mastercard Incorporated (NYSE:MA) posted a strong third-quarter performance.

The company reported non-GAAP earnings of $4.38 per share, beating analyst estimates by $0.07. Revenue climbed 16.7% year-over-year to $8.6 billion, exceeding expectations by $70 million. The company’s solid results were driven by broad-based growth across its payment network. During the quarter, Mastercard handled $2.7 trillion in payments across its network, marking a 10% rise in switched transactions. By the end of September, the company had 3.6 billion cards in circulation under the Mastercard and Maestro brands.

Earlier on October 15, Mastercard Incorporated affirmed its push for payment opportunities in Ukraine. The company inked a strategic partnership with Kyivstar to develop payment solutions tailored to the country’s financial infrastructure.

The two companies are also joining forces to enhance access to financial services in the country. Part of the plan involves testing Starlink Direct to Cell satellite technology in payment infrastructure. They intend to leverage the solution to enable financial transactions in areas without mobile coverage or during emergencies.

MasterCard and Kyivstar are to develop financial products and services while using Big Data and analytics capabilities. They also plan to implement technological solutions for e-commerce and introduce initiatives to promote cashless payments among small and medium-sized businesses.

“The partnership with Kyivstar is an important step toward realizing this vision in Ukraine,” said Inga Andreieva, Country Manager of Mastercard in Ukraine and Moldova. “By joining forces, we aim not only to strengthen the resilience of payment infrastructure in today’s challenging environment, but also to accelerate the growth of the digital economy.”

Mastercard Incorporated (NYSE:MA) is a global technology company that provides payment and other services by connecting and powering a digital economy. It facilitates transactions by operating a payment network, allowing consumers, businesses, and governments to make and receive payments electronically and securely.

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Disclosure: None. This article is originally published at Insider Monkey.