Mastercard profit rises 38 percent

(Reuters) - Mastercard Inc reported a 38 percent rise in quarterly profit on Wednesday, boosted by higher consumer spending on credit and debit cards.

Net income rose to $1.49 billion, or $1.41 per share, in the first quarter ended March 31 from $1.08 billion, or $1 per share, a year earlier. (https://bit.ly/2rfeEYR)

Net revenue rose 31 percent to $3.58 billion.

(Reporting by Nikhil Subba in Bengaluru; Editing by Shailesh Kuber)