The company now expects operating expenses to grow in a “high-teens” percentage in the year, compared with its prior forecast of a mid-teens rise.

Operating expenses rose 23.5% to US$1.73 billion (RM7.02 billion) in the second quarter that ended on June 30, as the company continues to invest in safety and security and digital products.

Mastercard, which processes more than 65,000 transactions a minute, said gross dollar volumes rose 15.3% to US$1.48 trillion (RM6 trillion) in the quarter. The United States, the company’s largest market, accounted for about 30% of the total.

Cross-border volumes – the value of transactions made by card holders abroad – increased 23.6% on a US dollar basis.

Net income jumped 33% to US$1.57 billion (RM6.37 billion), or US$1.50 (RM6.09) per share, in the quarter that ended on June 30.

On an adjusted basis, the company earned US$1.66 (RM6.74) per share, beating the average analyst estimate of US$1.53 (RM6.22), according to Thomson Reuters I/B/E/S.

The Purchase, New York-based company’s total revenue rose 20% to US$3.67 billion (RM14.91 billion), exceeding estimates of US$3.65 billion (RM14.83 billion).