MasterCard has reported a net income of $3.9bn for the year ended 31 December 2017, down 4% compared with $4.1bn a year ago.
The company reported net revenue of $12.5bn for the year 2017, an increase of 16% compared to $10.8bn in 2016. The rise in revenue was primarily attributed to 17% surge in switched transactions and 10% increase in gross dollar volume.
The payment technology firm’s operating income during the year increased 15% year-on-year to $6.6bn, while total operating expenses increased 17% year-on-year to $5.9bn.
The company’s operating margin during the year stood at 53% as against 53.5% a year ago.
Commenting on the performance, Mastercard president and CEO Ajay Banga said: “We’re pleased to have finished 2017 with strong results for the quarter and full year, driven by the solid execution of our strategy. Our ongoing investments in digital and safety and security, combined with our recent acquisitions, position us well to continue to grow our core business and capture new payment flows.”