Mastercard’s CFO says that factors like low unemployment, high wages and the wealth effect are contributing to strong spending patterns across mass-market and affluent consumers.

Mastercard eased concerns about a potential slowdown in consumer spending after beating Wall Street estimates for second-quarter results on Thursday, sending its shares up nearly 3%.

Mastercard Incorporated MA reported second-quarter 2025 adjusted earnings of $4.15 per share, which surpassed the Zacks Consensus Estimate by 2.5%. The bottom line improved 16% year over year. Net revenues advanced 16.