MasterCard Incorporated MA operates the world's second-largest retail electronic payments network.MasterCard continues to drive growth through increased cross-border volumes and improved pricing along with consistent growth of processed transactions.MasterCard has been consistently expanding its geographic footprint, which has resulted in an increase in membership. This, in turn, is expected to boost the revenues of the company.New global agreement wins and tie ups with regional banks in U.S. has also increased its client base. Moreover, MasterCard enjoys ample competitive advantage and a sufficiently risk-free balance sheet, which supports efficient capital deployment by generating incremental shareholder value.MasterCard has a pretty good earnings track record with the company delivering positive earnings surprises in three out of the last four quarters with an average surprise of 5.2%. Currently, MasterCard has a Zacks Rank #2 (Buy). But that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings: MasterCard reported earnings per share of 86 cents per share beating the Zacks Consensus Estimate of 85 cents per share.Revenues: Revenues surpassed our expectations. MasterCard’s revenues of $2.44 billion were above our estimates of $2.37 billion.Key Stats: The company reported an increase in cross border volumes of 12%, processed transactions increased 14% to $12.6 billion. Worldwide purchase volume during the quarter was up 12% on a local currency basis.Total operating expenses were $1.1 billion up 24.9% year over year. The company delivered an operating margin of 55.1%.MasterCard’s effective tax rate was 28.3% in the first quarter of 2016, versus a rate of 23.9% in the year ago quarter.During the quarter, MasterCard spent about $1.4 billion on share buyback.Check back later for our full write up on this MA earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MASTERCARD INC (MA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research