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. Pent-up demand and the easing of COVID-19 curbs have led to the strongest summer travel season in three years, a boon for card companies that can charge…
Mastercard Warns of Inflation Pinch After Solid Quarter for Card Issuers
Mastercard Inc. warned on Thursday that runaway inflation was sapping spending from lower-income customers, after rounding out a strong quarter for card issuers. Consumers across the globe have been showing signs of cracking in the face of decades-high price pressures, with purchases at retailers including Walmart shifting away from big-ticket items to essentials and groceries….
Mastercard Brushes Off Omicron Threat After Profit Beat
Mastercard Inc. beat quarterly profit estimates on Thursday as an uptick in international travel powered card spending and said a recent drag on cross-border travel from the Omicron variant was unlikely to persist. Increased vaccinations and easing pandemic-related curbs had backed a recovery in spending, but rising COVID-19 infections from the Omicron variant pressured cross-border…
General Mills Misses Quarterly Profit Estimates Amid Supply Chain Woes, Inflation
General Mills Inc. missed Wall Street estimates for quarterly profit on Tuesday, as the Cheerios cereal maker grappled with soaring prices of raw materials and higher costs of freight and labor. Shares of the Minneapolis, Minnesota-based company were down about 4 percent in premarket trade. Prolonged supply chain disruptions and a shortage of truck drivers…
NYSE-Owner ICE’s Quarterly Profits Top Expectations, Shares Hit Record
October 29, 2021
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NEW YORK—Intercontinental Exchange Inc on Thursday reported a quarterly profit that topped Wall Street expectations, helped by strong gains in its mortgage technology business and robust demand for its interest rate and energy hedging products. The New York Stock Exchange owner earned $1.30 per share in the quarter ended Sept. 30, 8 cents above the…
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