Mastercard Inc. (NYSE: MA) reported higher third-quarter profit on Thursday, supported by resilient consumer and business spending and robust growth in its services division.

Net revenue rose 17% year-over-year to $8.6 billion, beating analyst expectations of $8.54 billion. Adjusted earnings per share were $4.38, slightly above the $4.32 consensus estimate.

The company said gross dollar volume increased 9%, while cross-border spending grew 15%, underscoring steady travel and everyday purchase trends despite broader economic uncertainty.

Value-added services—including cybersecurity, data analytics, and marketing tools—expanded 25% year-over-year and now represent a growing share of total revenue. Operating expenses increased 5% due to higher administrative and acquisition costs, while the effective tax rate rose to 21.4% following implementation of new global minimum tax regulations.

CEO Michael Miebach said the results reflected “healthy consumer and business spending,” highlighting new product launches such as the Mastercard Commerce Media Network and enhanced cyber intelligence offerings. Mastercard processed $2.7 trillion in transactions during the quarter, with switched transactions up 10%. Total cards in circulation reached 3.6 billion across Mastercard and Maestro brands.