Why Mastercard Stock Blasted 9% Higher Today
Mastercard (NYSE: MA) exited 2021 in style, delivering a fourth quarter that handily beat estimates and demonstrated that the company's business is continuing to grow robustly. After it posted those quarterly figures early on Thursday, several analysts upped their price targets on the stock the following day. These developments drew investors back to the payment card giant's shares, which closed over 9% higher.
For the quarter, Mastercard's net revenue surged 27% higher year over year to $5.2 billion, while non-GAAP (adjusted) net income improved by 41% to $2.3 billion ($2.35 per share). On average, analysts had been forecasting $5.17 billion on the top line, with an adjusted per-share net profit of only $2.21.
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Source Fool.com
