Why Shares of Mastercard Are Falling Today
Shares of Mastercard (NYSE: MA) had fallen more than 6% as of 12:07 p.m. EDT today after the company's rival Visa (NYSE: V) reported earnings yesterday.
For the fourth fiscal quarter of the year, Visa reported earnings per share of $1.65 on total revenue of $6.6 billion. Both numbers beat estimates from analysts. The company's board of directors also recently approved a dividend increase of 17%.
Payments volume at Visa grew 17% from the fourth fiscal quarter of 2020, while cross-border payments volume jumped 38% on a year-over-year basis.
Source Fool.com
