(Reuters) -Mastercard ( MA ) reported a surge in first-quarter profit on Thursday after resilient spending in its card network despite the economic uncertainty sparked by U.S. President Donald Trump's tariff policies.

U.S. consumer spending held up in the reported quarter thanks to wage growth and a resilient labor market, even as tariff-driven turmoil casts a shadow on the economy.

"While there is uncertainty in the world, we've built a diversified, resilient business model and proven strategy that enables us to effectively navigate various economic environments," CEO Michael Miebach said.

Shares of the Purchase, New York-based firm rose nearly 1% before the bell.

Cross-border volume, which tracks spending on cards outside the country of their issue, jumped 15%.

Wall Street also views card networks as more defensive in a downturn relative to the broader payments space, given their high share of everyday spend and expense flexibility to support profit growth.

Mastercard's ( MA ) results cap off the earnings season for card companies and are closely watched by Wall Street to assess the health of U.S. consumers.

Rival Visa beat quarterly profit expectations earlier this week as spending remained resilient.

Growing revenue contribution from value-added services such as threat intelligence and fraud reduction also helped Mastercard ( MA ) diversify its business model.

Its value-added services and solutions business, which now makes up more than a third of Mastercard's ( MA ) revenue, fetched 18% higher revenue in the quarter.

Mastercard's ( MA ) net revenue rose 17% to $7.3 billion in the quarter from a year earlier.

Profit rose to $3.3 billion, or $3.59 per share, in the three months ended March 31, from $3 billion, or $3.22 per share, a year earlier.

Mastercard's ( MA ) shares have risen 4% so far this year, compared with a 9% gain for Visa.