Mastercard profit slumps on one-time charge related to new tax law
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[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
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
