MasterCard Profits

Mastercard Inc sailed past market estimates for quarterly profit on Thursday as a surge in cross-border spending sparked by this year's travel boom more than offset higher costs.

Mastercard Inc's quarterly profit beat Wall Street estimates, as lower costs helped dull the blow from fewer people using the payment processor's cards during the Covid-19 pandemic

However, says the card payments major, restricting data flows in digital transactions will affect the quality of fraud detection and assessment

The company's net income rose to $1.18 billion, or $1.10 per share in the quarter