Mastercard (MA, Financial) delivered net revenue gains of 12% as the labor markets continued to improve domestically and global retail spending improved as well. Mastercard is investing $170 million towards their E-wallet service Masterpass and partnering with PayPal Holdings to boost their mobile payment initiatives. Mastercard has delivered exceptional returns since our purchase at $22.14, compared to the current market of $128.
From Jeff Auxier (Trades, Portfolio)'s second-quarter 2017 shareholder letter.
