As the economy continues adjusting to higher interest rates, easing inflationary pressures, and the continued possibility of a recession this year, it's business as usual for (NYSE: MA). In 2023, the card payments giant reported that revenue and diluted earnings per share (EPS) increased 13% and 16%, respectively. This demonstrates that consumer spending remains robust, while at the same time proving that this business is simply just in an advantageous position compared to most others out there.
Is Mastercard stock, which is up 7.5% so far in 2024 and trading near all-time highs, worth buying today?
In the last decade, Mastercard shares have returned 567%, including dividends. The S 500, over the same timeframe, returned 240%. That's strong outperformance. Even when the market tanked in 2022, Mastercard's stock only dipped by 3%. This business is gaining a reputation for taking care of its shareholders regardless of the broader economy.
Source Fool.com