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Mastercard quarterly profit rises 33%

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Mastercard Inc reported a 33 per cent rise in adjusted quarterly profit on Thursday, as it processed more transactions during the holiday shopping season.

[BENGALURU] Mastercard Inc reported a 33 per cent rise in adjusted quarterly profit on Thursday, as it processed more transactions during the holiday shopping season.

Adjusted net income rose to US$1.6 billion, or US$1.55 per share, in the fourth quarter ended Dec 31 from US$1.2 billion, or US$1.14 per share, a year earlier. 

Net revenue rose to US$3.8 billion from US$3.3 billion a year ago.

Analysts on average were looking for a profit of US$1.52 per share and revenue of US$3.79 billion, according to IBES data from Refinitiv, although it was not immediately clear if the numbers were comparable.

Rival Visa Inc reported an 18 per cent rise in quarterly profit on Wednesday, beating analysts' estimates on higher transaction volumes.

REUTERS

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