You are here: Home » International » News » Companies
Business Standard

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


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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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