Company briefs: Mastercard
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Mastercard
Mastercard Inc reported a higher first-quarter profit yesterday, buoyed by a surge in cross-border spending that helped payment volumes climb.
The company's profit rose to US$2.6 billion (S$3.6 billion), or US$2.68 per share, for the three months ended March 31, compared with US$1.8 billion, or US$1.83 per share, a year earlier.
Excluding one-time costs, the New York-based company reported earnings of US$2.76 per share. Analysts on average had expected US$2.17 per share, according to Refinitiv.
REUTERS
Tata
Tata Motors expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year, sources with knowledge of the matter told Reuters.
That compares with the 19,000 EVs it built and sold in the last financial year.
Tata declined to comment on production plans but said EV sales were growing rapidly with demand outpacing supply. Tata accounts for 90 per cent of India's EV sales - a segment that still only represents 1 per cent of the country's annual sales of about three million vehicles.
REUTERS
McDonald's
McDonald's beat estimates for quarterly sales and profit yesterday, as the world's largest fast-food chain benefited from price increases in the United States and the launch of a new loyalty programme.
Shares of the burger chain rose about 2.6 per cent to US$253.49 in pre-market trading.
Rising wages due to a tight labour market and soaring costs of ingredients such as chicken and beef have forced US restaurant chains to announce a series of price hikes, which have seen little resistance from consumers so far.
REUTERS
