Why Mastercard Stock Sank on Wednesday

Performance Overview - Mastercard's revenue for the first quarter was $6.3 billion, representing a 10$2.3 trillion [2] - Non-GAAP adjusted net income rose by 16% year-over-year to $3.1 billion ($3.31 per share) on both as-reported and currency-neutral bases [2] Market Reaction - Mastercard's stock lost 2% of its value as investors reacted negatively to the quarterly results [1] - The revenue miss was notable, with analysts expecting $6.34 billion, slightly higher than the reported$6.3 billion [3] - Despite the revenue miss, the company's adjusted net income of $3.31 per share exceeded the analyst forecast of$3.24 per share [3] Growth Drivers - The increase in revenue and net income was driven by higher consumer spending, with more transactions made using Mastercard's payment cards [2] - Cross-border commerce grew by 18%, contributing significantly to the company's performance [2]