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MasterCard's quarterly profit rises 29%

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MasterCard Inc, the world's second-largest debit and credit card company, posted a 29 per cent rise in quarterly profit as customers swiped their cards more often.

[LONDON] MasterCard Inc, the world's second-largest debit and credit card company, posted a 29 per cent rise in quarterly profit as customers swiped their cards more often.

The company's net income rose to US$801 million, or 69 cents per share, in the fourth quarter ended Dec 31 from US$623 million, or 52 cents per share, a year earlier.

Net revenue rose 14 per cent to US$2.42 billion.

REUTERS