MasterCard Profit Beats Estimates on Consumer-Card Spending
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MasterCard Inc., the second-largest payments network, posted first-quarter profit that beat analysts’ estimates as consumer-card spending accelerated outside the U.S.
Net income climbed 17 percent to $1.02 billion, or 89 cents a share, from $870 million, or 73 cents, a year earlier, the Purchase, New York-based company said Wednesday in a statement. The average estimate of 26 analysts surveyed by Bloomberg was 80 cents a share. Revenue rose 2.7 percent to $2.23 billion, falling short of analysts’ estimates.