Core Viewpoint - Mastercard Inc. reported stronger-than-expected second-quarter results, leading to upward revisions from analysts due to accelerating growth in value-added services and solid international volume trends [1][2]. Financial Performance - Adjusted revenue for the second quarter was $8.13 billion, with earnings per share at $4.15, surpassing consensus estimates [2]. - Total net revenue increased by 16% year-over-year, while revenue from value-added services rose by 23% on a reported basis and 22% in constant currency [2]. Analyst Revisions - RBC Capital Markets raised its price forecast for Mastercard from $650 to $656, citing stronger-than-expected results and upward revisions in full-year guidance [3]. - Fiscal 2025 revenue is now projected at $32.68 billion with EPS of $16.45, and for fiscal 2026, revenue is expected to be $36.76 billion with EPS of $18.75 [4]. - JPMorgan increased its price target from $610 to $685, maintaining an Overweight rating, attributing the growth to strong expansion in value-added services [5]. - Goldman Sachs raised its price forecast from $674 to $688, maintaining a Buy rating, highlighting better-than-expected cross-border e-commerce trends [7]. Growth Drivers - Mastercard's transaction processing volume grew by 19% year-over-year, with cross-border volumes also increasing by 19% (15% in constant currency), outperforming Visa [7]. - Analysts noted strong July trends and positive third-quarter guidance as indicators of continued momentum [4]. Future Projections - JPMorgan revised fiscal 2025 organic revenue growth to 13% and maintained 11% for 2026, with projected EPS of $16.31 for fiscal 2025 and $18.89 for fiscal 2026 [6]. - Goldman Sachs adjusted EPS estimates to $16.34 for 2025, $18.76 for 2026, and $21.89 for 2027, citing strong operating leverage and sustained demand for Mastercard's services [8].