MasterCard Inc (MA.N), the operator of the world’s second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes increased.
The company’s net income rose to $890 million, or 79 cents per share, in the fourth quarter ended Dec. 31 from $801 million, or 69 cents per share, a year earlier.
Acquisitions had a dilutive impact of 3 cents per diluted share on earnings, the company said.
Analysts on average estimated earnings of 79 cents per share, according to Thomson Reuters I/B/E/S.
Net revenue rose 4 percent to $2.52 billion.
MasterCard’s gross dollar volume — the total value of transactions made by its customers — rose 12 percent to $1.2 trillion on a local currency basis.
Cross-border volumes — the value of transactions made by customers outside the card-issuer’s country — also rose 12 percent.
MasterCard’s shares were up 1.2 percent at $84.40 in premarket trading on Friday.
Up to Thursday’s close, the stock had lost about 3 percent since the beginning of the year, underperforming rival Visa Inc’s (V.N) 5.8 percent gain.
REUTERS
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