Mastercard and Visa Report Profit Beats on Strong Spending
Mastercard and Visa beat profit estimates as consumer spending stays resilient. Wealthy households drive growth while credit quality remains stable for now.
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MASTERCARD INC - A beat quarterly profit expectations on April 30, joining rivals in a sector-wide display of consumer spending resilience. The results follow similar beats from VISA INC-CLASS A SHARES and AMERICAN EXPRESS CO earlier in the week. These networks confirm that high-income spending offsets macroeconomic pressures from the United States to the Middle East.
