Mastercard shares dropped after the company reported revenue that fell short of analysts’ estimates, pinched by a persistent slump in foreign travel.
Mastercard and Visa have seen their stocks battered during the coronavirus pandemic, which prompted economies around the world to shutter and stifled global travel. At the same time, the widespread shift to e-commerce has helped boost spending on the firms’ cards in recent months. Spending with the payment method climbed 13% in the third quarter, topping analysts’ estimates and helping to counter a decline in credit-card use. It was also enough to help Mastercard post a surprise increase in purchase volume.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US stocks extend sell-off over Covid-19 and election worriesShares of hotels, airlines and other companies sensitive to Covid-19-related turmoil fall
Source: BDliveSA - 🏆 12. / 63 Read more »
Looking for an account that allows you to save and access a portion of your funds immediately? The Standard Bank Flexi Advantage Investment Account is the solutionSave for your long or short term goals, with the Standard Bank Group Flexi Advantage Investment Account, a risk free way to earn some interest on your money. Sponsored
Source: IOL - 🏆 46. / 51 Read more »