Mastercard profit rises 27 percent as it processes more payments
FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White/Illustration
(Reuters) – Mastercard Inc reported a 26.7 percent rise in quarterly profit on Tuesday, as a strong U.S. job market and a boom in online shopping boosted transaction volumes on the company’s payment network.
Net income rose to $1.9 billion, or $1.80 per share, in the first quarter ended March 31 from $1.5 billion, or $1.41 per share, a year earlier. bit.ly/2vv9PfA
On an adjusted basis, the company earned $1.78 per share. Analysts were expecting net income of $1.66 per share, according to IBES data from Refinitiv. It was not immediately clear if the number was comparable.
Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D’Silva