In a Post-Coronavirus World, Mastercard Will Be a Staple
It was a foregone conclusion that the first quarter of 2020 was going to get rough for Mastercard (NYSE: MA). At the start of the year, its stock valuation was based on the assumption of smooth sailing and steady growth for the foreseeable future, but what has happened since then has been anything but smooth.
Mastercard management had already warned investors to expect less-impressive results, calling for low single-digit percentage revenue growth in the first quarter (and that includes the effects from acquisitions) and plenty of question marks beyond that as the coronavirus lockdown started to take a heavy toll on the global economy.
The final results for the quarter were not surprising, but even though Mastercard pulled its financial guidance for the rest of 2020, it's clear that digital transactions are more important than ever before with much of the world operating under social-distancing and stay-at-home protocols.
Source Fool.com
