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Mastercard revenue falls 5.6% on cross-border spending stoop By Reuters 



© Reuters. FILE PHOTO: Illustration picture of a Mastercard emblem on a bank card

(Reuters) – Mastercard Inc (NYSE:) reported a 5.6% drop in first-quarter revenue on Thursday, primarily pushed by a steep decline in cross-border spending on its playing cards due to a stoop in worldwide journey as a result of COVID-19 pandemic.

Web revenue, excluding distinctive objects, fell to $1.7 billion, or $1.74 per share, from $1.8 billion, or $1.83 per share, a yr earlier.

Analysts on common had anticipated a revenue of $1.57 per share, in accordance with Refinitiv IBES knowledge.

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