Mastercard Incorporated reported on Thursday that its revenue for the third quarter of 2023 amounted to $6.5 billion, jumping 14% compared to the same period a year earlier and matching expectations.

Net income in the trimester surged 28% year on year to $3.2 billion, or $3.39 per diluted share, topping estimates. Meanwhile, operating income rose 24% to $3.8 billion and operating expenses were up 2% to $2.7 billion.

"We delivered strong revenue and earnings growth again this quarter, reflecting the solid fundamentals of our business and the continued resilience in consumer spending. Our cross-border volumes increased 21%, reflecting the ongoing strength in both travel and non-travel cross-border spending," CEO Michael Miebach stated.

Mastercard shares declined 1.15% in premarket trading despite upbeat results.