Investing.com - Mastercard (NYSE:MA) shares jumped in premarket trade on Thursday, after the company posted better-than-expected fourth-quarter earnings and revenue.
The payments processor reported earnings per share of $1.55, beating expectations for earnings of $1.52 per share, after what chief executive Ajay Banga called "a very strong end to the year."
Revenue totaled $3.81 billion, just above forecasts of $3.79 billion. Mastercard's stock rose 3.8% in premarket trade to $211.90.
The company’s gross dollar volume - the dollar value of transactions processed which is considered the core source of revenue - rose 14% during the quarter.
Cross-border volumes rose by 17%.
Mastercard, which, like its big rival Visa (NYSE:V), has flourished as electronic payments have established themselves across the world, didn't give an outlook for 2019.
Visa reported an 18 percent rise in its fourth-quarter earnings on Wednesday, driven by higher transaction volumes. Visa's results were also ahead of market expectations.
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