MasterCard Posts Higher Income as Market Share Increases
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MasterCard Inc., the world’s second-biggest payments network, posted a 21 percent increase in first-quarter profit as card spending rose and the firm took a bigger share of the market.
Net income advanced to $682 million, or $5.36 a share, from $562 million, or $4.29, in the same period a year earlier, the Purchase, New York-based company said today in a statement. While results beat most Wall Street estimates, reports on employment and jobless rates in the U.S. and Europe weighed on financial markets, and MasterCard shares slid 1.9 percent.