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    HomeNewsWorldInternational ResultsMasterCard profit jumps 33%, beats Street

    MasterCard profit jumps 33%, beats Street

    MasterCard Inc's second-quarter profit rose 33%, beating Wall Street estimates, as the company processed more card transactions and revenue increased.

    August 03, 2011 / 18:56 IST

    MasterCard Inc's second-quarter profit rose 33%, beating Wall Street estimates, as the company processed more card transactions and revenue increased.


    Purchase, New York-based MasterCard reported net income of USD 608 million or USD 4.76 per share, up from USD 458 million, or USD 3.49 per share, a year earlier.


    Analysts expected USD 4.23 per share, according to Thomson Reuters I/B/E/S.


    Net revenue increased 22% to USD 1.7 billion as payment volumes and Mastercard's international business grew.


    Total operating expenses increased at a slightly slower rate than revenue, rising 20% to USD 782 million.

    Mastercard said the expense increase was due to higher personnel costs related to acquisitions.

    first published: Aug 3, 2011 06:52 pm

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