Mastercard Incorporated (NYSE:MA) posted another strong quarter, fueled by resilient consumer spending and steady global transaction growth.

The results underscored the company’s ability to navigate currency shifts and competitive headwinds, even as portfolio conversions briefly tempered U.S. volumes in October.

JP Morgan analyst Tien-tsin Huang reiterated an Overweight rating on Mastercard, with a price forecast of $685 after the company reported third-quarter fiscal 2025 results.

Earnings Results

The company reported quarterly net revenues of $8.60 billion, up 17% year-over-year and 15% Y/Y on a neutral currency basis, beating the analyst consensus estimate of $8.53 billion.

Mastercard expects net revenue growth in the high teens for the fourth quarter, versus the $8.71 billion analyst consensus estimate.

Mastercard expressed confidence in the broader economy, pointing to stable inflation, strong labor markets, and near-record financial markets that are boosting consumer wealth and ...