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MasterCard beats estimates with 20% jump in profit

The company's net income rose to $1.18 billion, or $1.10 per share in the quarter

Reuters 

MasterCard Inc, the world's second-biggest payments processor, on Thursday reported a better-than-expected 20 percent jump in quarterly profit as people spent more using credit and debit cards. Mastercard's shares were up 2 per cent at $133.60 in premarket trading. Consumer spending in the United States, which accounts for more than two-thirds of nation-wide economic activity, has been on an upswing, supported by a tightening labor market and cooling inflation. Purchase, New York-based Mastercard, like its bigger rival Visa Inc, generates revenue by facilitating ...

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First Published: Fri, July 28 2017. 04:55 IST
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