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Mastercard profit rises on consumer spending

October 28, 2022

Mastercard reported an increase in third-quarter earnings as the second-largest card network company benefited from its investments in the payments sector.

During the company’s earnings conference call Thursday, Chief Executive Michael Miebach noted the company’s “focused execution” of Mastercard’s strategy is working even in difficult economic times and as competition in the payments sector heats up.

”Our diversified business model and ability to modulate expenses position us well to navigate through periods of uncertainty while maintaining focus on our strategic objectives,” Miebach said during the call.

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