Earnings Review: Setting a Steady Course

This morning, we announced our financial results for the first quarter of the year. I’m pleased to share that we reported a solid start to the year.

The numbers speak for themselves – double-digit gains in net revenue, operating income and EPS, all on a currency-neutral basis and excluding special items. 

During the call, Ajay and I shared examples and discussed in some detail how we continue to deliver differentiated value for our customers, consumers, businesses and governments. A few highlights that help illustrate these efforts include:

Supporting All Types of Payments – Many people are very familiar with our core credit, debit and prepaid products. We’ve made investments beyond these traditional products to help businesses and governments achieve their goals. An example of this is the past week’s announcements that our real-time payments infrastructure from Vocalink is being adopted in new markets – the Philippines and Saudi Arabia – helping these governments meet the needs of their citizens and economies.

Earlier in the quarter, we also noted plans to acquire three businesses beyond card payments. The addition of Transfast, Ethoca and Vyze is rooted in our strategy and bolsters how we support customers in cross-border account-to-account payments, fraud prevention and driving greater merchant engagement.

Innovating and Partnering – Part of innovation is thinking differently about a challenge or opportunity. Another part is working with the right partner. We’re bringing our technology and know-how to help increase the value of our shared efforts.

In today’s digital-first world, businesses and people are looking for products that fit their lives and make things easier. Earlier this month, Apple announced Apple Card with Mastercard and Goldman Sachs. This is a credit product designed for the iPhone that leverages Mastercard’s tokenization technology and gives consumers immediate access to the digital version of the card in their Apple Wallet.

Similarly, Mercado Libre, the largest e-commerce marketplace in Latin America, is using Mastercard technology to deliver greater payment safety and convenience across Brazil, Argentina and Mexico.

Extending New Opportunities – While paying with a swipe, dip or tap is second nature to us, there are many areas of the world where this is not a common experience. Electronic payments and the benefits they bring are only beginning to be realized.

This quarter, we announced partnerships and investments with Network International and Jumia in the Middle East and Africa to support the shift from cash and checks.  And, we’re working with Citibank to activate our Gateway Services, enabling their institutional customers to seamlessly receive payments from their customers.

We’re proud of what we have accomplished in the past quarter. And, I’m excited about the opportunities ahead. I’ll provide a perspective on business developments from time to time. In the meantime, continue to visit our investor website and our online newsroom for more information and updates on the latest from Mastercard.