MasterCard 3Q profit up 14 pct on higher card useOctober 31, 2013 in Technology / Business
MasterCard says its third quarter profit rose 14 percent as it processed more payments.
Revenue rose 16 percent to $2.22 billion for the three months ended Sept. 30.
The company's growth was boosted by its overseas business. Excluding the U.S., the amount people spent using MasterCard-branded cards rose almost 19 percent on a local-currency basis. In the U.S., spending rose close to 10 percent.
MasterCard Inc.'s results beat analysts' expectations for profit of $6.94 per share on revenue of $2.14 billion.
The company's stock rose $9.32, or 1.3 percent, to $735 in pre-market trading. The stock has advanced 48 percent this year.
© 2013 The Associated Press. All rights reserved.
"MasterCard 3Q profit up 14 pct on higher card use" October 31, 2013 http://phys.org/news/2013-10-mastercard-3q-profit-pct-higher.html