Mastercard reported a strong quarterly profit on Thursday, surpassing analyst expectations despite ongoing concerns about inflation and economic uncertainty. The company’s shares rose more than 4 percent in afternoon trading, outperforming rivals Visa and American Express, which gained approximately 2 percent each.

The steady performance reflects continued consumer spending resilience amid broader economic challenges. Analysts note that a robust labor market and sustained wage growth have helped mitigate the impact of rising gasoline prices and increased living costs. These inflationary pressures are partly linked to geopolitical developments in the Middle East, including conflict involving Iran, which has contributed to higher fuel expenses.

Ling Hai, Mastercard’s newly appointed chief financial officer, highlighted that some of the growth in spending this year is attributed to elevated gas prices. However, Hai also cautioned that persistent high inflation could negatively affect future consumption patterns, potentially limiting any short-term gains from price increases.

Mastercard’s extensive global network, covering over 200 countries and territories, provides the company with a degree of insulation against localized economic disruptions. This international reach allows Mastercard, like its main competitor Visa, to maintain stable revenue streams despite regional volatility.

The company’s quarterly results cap a strong period for major payment networks, reaffirming the ongoing demand for electronic payments amid shifting consumer behaviors and economic pressures.