Earnings Review: Solid momentum, focused on the future

October 28, 2021 | By Sachin Mehra

During our earnings call today, we shared an update on our financial performance and the strong momentum that we are carrying into the fourth quarter.

In short, we saw strong results on both a revenue and EPS front. One true illustration of that momentum – and the opportunity ahead – is that on a non-GAAP currency neutral basis, our net revenues in the quarter were 11% above the same time period in 2019, before the pandemic.

If you’re a frequent reader of these posts – or if you listen to our quarterly calls – you know that we have used a four-phase model to help us navigate through the pandemic. It served us well, allowing us to address local and regional developments as appropriate.

While this health and economic situation is not fully behind us, we believe that with continued growth in cross-border spending and most markets being in the growth phase domestically, now is the time to move beyond the four-phase frameworks and focus on the long-term growth opportunity ahead of us.

With an eye toward growth, I’d reinforce a few takeaways from our most recent quarter:

  • Our deal momentum reflects a truly diversified business. The relationships we have cultivated with customers and partners are seen in what we’re able to deliver for and with them. It’s payments and the value beyond the transaction – cyber, analytics, insights, loyalty and more.
  • Domestic spending levels remain healthy, with even more purchases taking place in person. In fact, the penetration of contactless transactions across the globe continues to grow.
  • We’re seeing continued opening of travel corridors and are encouraged by the potential that represents for international travel, which we are well-positioned to capitalize on.
  • The potential of choice and the customer-centric innovations we are delivering is being recognized. Our recent announcement of Mastercard Installments has received strong interest from partners and players on all sides of the ecosystem as they look for continued value from the global Mastercard network.
  • The opportunity in digital assets is one we continue to explore and enable. We’re excited about our acquisition of CipherTrace and what that means in potentially delivering more security, transparency and trust to the payments ecosystem.
  • We saw the continued expansion of the Mastercard Track Business Payment Service network with key partners, including JPMorgan Chase, Moneris and Priority Commercial Payments, and the launch of a supply chain finance capability that will support access to affordable working capital.

While today’s earnings call gives a good view of our business today and our performance over the past quarter, I hope you’ll join us at our virtual investment community meeting on November 10 where we’ll have several of our senior leaders share insights on our current efforts and our future plans.

Photo of Sachin Mehra
Sachin Mehra, Chief Financial Officer, Mastercard