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Update: Mastercard Shares Fall After April Cross-Border Volumes Grow at Slower Pace, Q1 Results

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-- (Updates with the latest stock move and in the headline and in the first paragraph, details on April-to-date data in the second paragraph.)

Mastercard (MA) shares were down 3.5% in Thursday trading after the company posted a slowdown in April month-to-date cross-border volumes growth, even as it reported better than expected Q1 results.

The company recorded April month-to-date cross-border volumes growth of 9% compared to 12% in March and 13% for the Q1. Meanwhile, April switched volume growth was 8% versus 9% in March and switched transactions growth were 9%, unchanged from the previous month.

Additionally, Mastercard reported Q1 adjusted earnings of $4.60 per diluted share, up from $3.73 a year earlier.

Analysts polled by FactSet expected $4.41.

Net revenue for the quarter ended March 31 was $8.40 billion, up from $7.25 billion a year earlier.

Analysts polled by FactSet expected $8.26 billion.

Price: $508.00, Change: $-17.23, Percent Change: -3.28%

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