Sunday, April 26th6.9°C
26071
24949

MasterCard 2nd-quarter profit climbs as processed transactions increase

PURCHASE, N.Y. - MasterCard's second-quarter net income climbed 9.8 per cent as it benefited from volume growth and handled more transactions in the period.

The company's results topped analysts' estimates. Shares rose in premarket trading on Thursday.

MasterCard Inc. is the world's second-largest processor of debit and credit card payments. Like its bigger rival, Visa Inc., it benefits from heightened consumer spending.

The company, which is based in Purchase, New York, earned $931 million, or 80 cents per share, for the three months ended June 30. That's up from $848 million, or 70 cents per share, a year earlier.

The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

Revenue rose 13 per cent to $2.38 billion from $2.1 billion, beating Wall Street's forecast of $2.3 billion. The revenue performance were somewhat offset by an increase in rebates and incentives.

Worldwide purchase volume climbed 13 per cent to $821 billion, while processed transactions increased 12 per cent to 10.6 billion.

Mastercard's stock gained $1.34 to $77.25 before the market opened Thursday.

The Canadian Press


Read more Business News

24910


Recent Trending




Today's Market
S&P TSX15408.33+15.98
S&P CDNX697.70-1.78
DJIA18080.14+21.45
Nasdaq5092.08+36.02
S&P 5002117.69+4.76
CDN Dollar0.8210+0.0002
Gold1175.20-17.60
Oil55.50-0.88
Lumber258.50+3.90
Natural Gas2.531+0.002

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.010.00
QHR Technologies Inc1.38+0.00
Cantex0.035+0.005
Anavex Life Sciences0.43+0.01
Metalex Ventures0.095+0.000
Russel Metals27.16+0.41
Copper Mountain Mining1.15+0.06
Colorado Resources0.095+0.000
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.20+0.00
Decisive Dividend Corporation1.80+0.10

 



25990

FEATURED Property
22670341319 Wilson Avenue
6 bedrooms 2 baths
$409,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What's your score?

There was a time when we would sit down with nothing more than a sheet of paper and a sharp pencil to do the math. Totalling our expenses and subtracting our revenue, the amount left over was the answ...


Do you dare to dream?

Photo: Thinkstock.comI have never been able to understand why some people can only see as far ahead as the end of the current day. Instead of aiming for long term goals, they just wallow in their ever...


Calling on your help!

Has the internet flattened prices as predicted? Has the internet created opportunities for your business to find higher priced markets further afield? Is posting prices on your website a good thing o...

_



25221

25289


Member of BC Press Council


25574