Thursday, October 30th8.7°C
23696
23129

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

23630


Recent Trending




Today's Market
S&P TSX14458.69-68.88
S&P CDNX771.65-9.42
DJIA17195.42221.11
Nasdaq4566.138+16.912
S&P 5001994.65+12.35
CDN Dollar0.8925-0.001
Gold1198.30-0.2999
Oil80.65-0.25
Lumber322.40-1.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.11+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.045-0.015
Anavex Life Sciences0.1711-0.0089
Metalex Ventures0.0350.00
Russel Metals32.22-0.35
Copper Mountain Mining1.97-0.05
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.375+0.005

 





FEATURED Property
210238910291 Columbia Way
3 bedrooms 5 baths
$435,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22771