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How Mastercard Beat Earnings, Revenue Estimates in 3Q17

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Part 5
How Mastercard Beat Earnings, Revenue Estimates in 3Q17 PART 5 OF 8

Analyzing Mastercard’s Gross Dollar Volumes

Credit

In 3Q17, Mastercard’s (MA) gross dollar volumes rose 10% on a YoY (year-over-year) basis, including the United States. It saw credit and charge volumes of $508 billion from other countries, excluding the United States. However, volumes related to credit and charge programs in the United States were $198 billion.

Analyzing Mastercard’s Gross Dollar Volumes

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After including the US business in the contribution made by other countries, total credit and charge programs amounted to $706 billion in 3Q17.

Mastercard has a beta value of 1.17. Its peers (XLF) Visa (V), Western Union (WU), and Euronet Worldwide (EEFT) have beta values of 1.13, 1.0, and 1.35, respectively.

Debit

Mastercard’s volumes related to its debit programs were $439 billion in 3Q17, contributed by other countries excluding the United States. However, in the United States, the volumes were $209 billion.

Total volumes

In 3Q17, Mastercard reported total gross dollar volumes from debit, credit, and charge programs of $1.4 trillion, compared to $1.2 trillion in 3Q16. These figures include contributions from other countries as well as the United States. This YoY rise was largely due to the rise in volumes from other countries, excluding the United States.

Total volumes from other countries (excluding the United States) rose from $836 billion in 3Q16 to $947 billion in 3Q17. Total volumes for the United States rose from $383 billion in 3Q16 to $406 billion in 3Q17.

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