Mastercard Profit Jumps as Pandemic-Weary Consumers Splurge on Travel

Mastercard Profit Jumps as Pandemic-Weary Consumers Splurge on Travel
Credit card is seen in front of displayed Master Card logo, on July 15, 2021. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

Mastercard Inc. on Thursday reported first-quarter profit above Wall Street expectations and said consumers were braving stubbornly high inflation and concerns around new coronavirus variants to spend on travel, sending its shares up 3 percent.

Pent-up demand from Americans who stayed homebound for a prolonged period helped cross-border travel surpass 2019 levels in March for the first time since the COVID-19 pandemic began.