Mastercard quarterly profit rises as transaction volumes hold strong

[NEW YORK] Mastercard reported a jump in third-quarter profit on Thursday (Oct 30), as sustained consumer spending boosted payment volumes on its networks.

Consumer spending has proven resilient, while labour market cracks and sticky inflation continue to fuel concerns over US President Donald Trump’s trade and immigration policies.

Mastercard’s net revenue rose 17 per cent to US$8.6 billion in the quarter from a year earlier.

Shares of the Purchase, New York-based firm rose marginally before the bell.

Profit rose to US$3.9 billion, or US$4.34 per share, in the three months ended September 30 from US$3.3 billion, or US$3.53 per share, a year earlier. REUTERS