Shares of Mastercard Inc. (MA) fell about 2 percent after the bell Tuesday after the payments technology company disclosed its exposure to Russia and Ukraine.
The company said in an 8-K filing released after the close of trading Tuesday that about 4 percent of Mastercard’s net revenue in 2021 will come from operations in and out of Russia. In addition, about 2 percent of revenue during 2021 is related to Ukraine.
The company said, “Given the rapidly changing circumstances in these markets, we continue to monitor and assess the impact of current and potential future actions by governments and others on our business, including potential balance sheet risk and settlement-related risks.”
MasterCard said Russia and Ukraine were “significant contributors to the company’s overall net income,” although its “global business fundamentals remain strong. The company is “working to comply with all imposed restrictions.