Mastercard Stock Draws Retail Buzz After Q1 Beat, CEO Says No Major ‘Upfronting Of Spending’ Yet

Its gross dollar volume, which implies the total value of transactions processed, rose 9% to $2.4 trillion.

Mastercard (MA) stock drew retail attention on Thursday after the payments firm’s quarterly earnings topped Wall Street’s estimates.

On an adjusted basis, the company reported earnings of $3.73 per share for the three months ended March 31, compared with analysts’ expectations of $3.56 per share, according to FinChat data.

The Purchase, New York-based company's quarterly revenue of $7.25 billion also beat Wall Street’s estimates of $7.12 billion.

The company reported a net income of $3.28 billion, or $3.59 per share, for the first quarter, compared with $3.01 billion, or $3.22 per share.

As of March 31, 2025, the company’s customers had issued 3.5 billion Mastercard and Maestro-branded cards.

The company’s payment network net revenue rose 13%. Its gross dollar volume, which implies the total value of transactions processed, rose 9% to $2.4 trillion.

“Consumer and business sentiment has weakened primarily due to concerns surrounding the impact from tariffs and geopolitical tensions,” CEO Michael Miebach said in a call with analysts.

While there have been concerns that first-quarter payment volumes might be affected by customers moving up their purchases to avoid tariffs, Mastercard said it hadn’t seen such a trend emerge.

“In our data, we don't really see significant upfronting of spending,” Miebach said.

Morningstar analysts noted that tariffs create significant near-term uncertainty but it will take time for the impact to be felt.

Retail sentiment on Stocktwits was in the ‘extremely bullish’ (77/100) territory, while retail chatter was ‘extremely high.’

One retail trader said that the stock was inflation-proof, while another user said that tariffs might not affect Mastercard.

Mastercard stock has risen 3.3% year to date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.<