Mastercard profit slumps on one-time charge related to new tax law
Add BT as a preferred source[BENGALURU] Mastercard Inc, the world's second-biggest payments network, reported a 76 per cent drop in quarterly profit on Thursday, hurt by a one-time charge of US$981 million related to changes to US tax laws.
Net income fell to US$227 million, or 21 cents per share, in the fourth quarter ended Dec 31, from $933 million, or 86 cents per share, a year earlier. Excluding items, the company earned US$1.14 per share.
Analysts on average had expected a profit of US$1.12 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.
Net revenue rose to US$3.31 billion from US$2.76 billion.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Ex-Sakae director Ong Siew Kwee handed 10.5-year jail term for misappropriating S$15.8 million, lying in court
DBS sees choppy Q3 for STI as investors pivot from Singapore banks to listcos that’re unlocking value
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
High Court rejects bid to bring ST Engineering unit into trademark infringement suit over RSAF aircraft parts
