July 31 MasterCard Inc, the world's
second-largest debit and credit card company, posted a
better-than-expected 10 percent rise in quarterly profit, as
more customers used its cards to make purchases.
MasterCard shares were up 2.8 percent at $78 in trading
before the bell on Thursday.
The company's net income rose to $931 million, or 80 cents
per share, in the second quarter ended June 30, from $848
million, or 70 cents per share, a year earlier.
Net revenue rose 13.4 percent to $2.38 billion.
Analysts on average had expected the company to earn 77
cents per share, on revenue of $2.31 billion, according to
Thomson Reuters I/B/E/S.
MasterCard's worldwide purchase volume increased 12.5
percent in local currency terms to $821 billion, driven by
growth in Europe, the Asia Pacific, the Middle East and Africa.
The company, which provides cards under brands including
MasterCard, Maestro and Cirrus, said its U.S. purchase volumes
rose 10.1 percent to $289 billion.
MasterCard's stock has risen 2.3 percent since it last
reported results in May, underperforming the S&P 500 Index
, which rose 4.6 percent in the same period.
(Reporting by Tanya Agrawal and Amrutha Gayathri; Editing by