Mastercard (NYSE: MA) rides high on Verizon partnership, stock up 2%

Summary

Mastercard stock (NYSE: MA) was up 2.17% on Tuesday after Verizon pact.

Mastercard and Verizon to provide “transformative” solutions in payment processing.

In Q1 of 2021, its revenue was up 3.6% YoY to US$4.16 billion. Its net income for the quarter was US$1.83 billion, an increase 8% YoY.

Mastercard Incorporated (NYSE: MA) stock was trending on the Wall Street on Tuesday after it announced a partnership with Verizon Communications Inc. (NYSE: VZ) to boost its payment processing operations.

The company is expected to host a conference call for the second-quarter results on July 29.

In Q1 of 2021, its revenue was up 3.6% YoY to US$4.16 billion. Its net income for the quarter was US$1.83 billion, an increase 8% YoY.

On Tuesday, Mastercard announced its strategic partnership with Verizon, a communications, information and entertainment products and services provider, to work on immersive retail technology, beef up point of sale and develop digital capabilities for small and medium enterprises.

The partnership aims to provide “transformational solutions” in the commercial payment space by advancing contactless shopping, autonomous checkout technology, and cloud point of sale.

The collaboration will enable connected devices to accept payment effortlessly and develop a touchless retail shopping experience with VZ’s 5G and mobile edge computing and MA’s vast network and reach.

Also Read: Why Boeing Company stock (NYSE: BA) fell over 4% Tuesday?

On July 12, Mastercard also had announced an extension of its partnership with Major League Baseball, an American professional baseball organization, for several years. Mastercard has been a sponsor of the All-Star Game. This multi-year partnership extension complements its two-decade long experience of “delivering experience and services in stadiums and viewing channels”, the company said in a release.

The stock was up 2.17% to US$ 383.71 at the market close on July 13. The stock’s 52-week high is US$401.50 and a low of US$281.20. It has a share volume of 3,343,456. The stock climbed 7.97% YTD.

Source: Pixabay

Also Read: PepsiCo (PEP) stock gains, Conagra (CAG) declines on forecast update

Founded in 1966, Mastercard Incorporated has a US$382.53 billion market capitalization, with a P/E ratio of 59.11. Its current dividend yield is 0.47%, and its annualized dividend is US$1.76.

The New York-headquartered company had launched its IPO in 2006. It is currently one of the world's largest payment processing companies, with a presence in over 210 countries.

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

The reference data in this article has been partly sourced from Refinitiv.

Sanjeeb Baruah

Author

Sanjeeb Baruah - Financial Journalist
371 Posts
Sanjeeb is a senior journalist who has been in the media for nearly two decades. He wrote on various topics, from politics, international relations, business to wildlife. At Kalkine, he writes on stock markets, companies, equities, and IPOs, etc....
Follow