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Mastercard’s revenue rose 13% in the third quarter, beating analyst expectations and supported by healthy consumer spending that boosted demand for the company’s payments network and value-added services.

Revenue rose to $7.4 billion in the quarter ended Sept. 30, up from $6.5 billion a year ago and higher than the $7.3 billion analysts expected, according to S&P Capital IQ.

Mastercard reported net income of $3.3 billion, or $3.53 per share, compared with $3.2 billion, or $3.39 per share, a year earlier. Analysts expected $3.3 billion, or $3.64 per share. Total operating expenses increased 25% in the quarter, including a restructuring charge and litigation provisions.

Adjusted earnings came in at $3.89 per share, above analyst estimates of $3.75 per share according to S&P Capital IQ.

“These results reflect healthy consumer spending and continued strong demand for our value-added services and solutions, which saw net revenue increase 18%, or 19% on a currency-neutral basis,” he said. CEO Michael Miebach said in a press release on Thursday.

“We continue to invest in our suite of differentiated services to grow our addressable market, protect the ecosystem and add value to every transaction,” he said.

Payment network revenues jumped 10%, with gross dollar volume increasing 10% and cross-border volume increasing 17% on a local currency basis. Transferred transactions increased by 11%.

Value-added services revenue increased 18%, primarily driven by growth in “underlying key drivers,” strong demand for consulting and marketing services, and scaling of fraud, security, identity and authentication solutions, Mastercard said.

The results are comparable to rival Visa’s third quarter results and follow a a strong second quarterwhich was somewhat overshadowed by an interchange fee deal with merchants that collapsed when a the federal judge blocked it.

Mastercard also said last quarter that it planned to lay off around 3% of its staff in September, despite reporting results that beat analysts’ estimates and being optimistic about consumer spending.

Still, Mastercard has been busy in the third quarter. Payment card processor named in July more partners in his push for open banking system with the addition of nine international fintech startups to its Start Path Open Banking and Embedded Finance accelerator program.

In August, the company in partnership with the Medical Tourism Association to provide virtual card technology to arrange care, book travel and make payments, and in September spent $2.7 billion to acquire Recorded Future, an AI-powered generative technology that analyzes data sources to identify potential security threats.

Miebach said Thursday that the planned acquisitions of Recorded Future and Minna Technologies are expected to “add industry-leading AI-driven threat intelligence and subscription management capabilities to meet the needs of our customers.”

Mastercard this month also signed a global payments partnership with Citigroup which allows the mega-bank to connect to its Mastercard Move product to transfer money cross-border to bank accounts, prepaid debit cards, mobile wallets and cash hotspots in seconds.