Mastercard (NYSE:MA) shares edged 3.2% lower following the company’s print for the fiscal Q1, where it reported worse-than-expected revenue and operating margin.
The payments processing giant posted Q1 earnings per share (EPS) of $3.31, ahead of the consensus estimates of $3.24. However, the company's revenue of $6.3 billion fell slightly short of the projected $6.34 billion.
The operating margin for the quarter was 56.8%, below the expected 58.3%.
Gross Dollar Volume also missed expectations, totaling $2.29 trillion compared to the forecasted $2.32 trillion.
Looking ahead, MasterCard now expects Q2 net revenue to reach the high end of high-single-digit growth.
For the full year, it anticipates net revenue growth at the low end of low-double-digits.
“Our momentum continued this quarter, as we delivered strong revenue and earnings growth powered by healthy consumer spending, strong cross-border volume growth of 18%1 year-over-year, and new deal wins in every region,” said Michael Miebach, CEO of Mastercard.
“We are driving growth in electronic payments by scaling innovative technologies like tokenization. That’s why people choose Mastercard - for a simple, seamless and secure way to pay.”