Reuters: Global Markets: MasterCard posts 21 percent rise in profit, shares rise

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MasterCard posts 21 percent rise in profit, shares rise Jul 31st 2013, 12:29 Tweet Share this Email Print Related News Burger King profit beats estimates as costs fall 8:10am EDT MasterCard posts 21 pct rise in profit 8:08am EDT AllianceBernstein revenue rises, but Asia clients jittery 7:50am EDT Invesco profit rises 32 pct on higher investment management fees 7:41am EDT AllianceBernstein net revenue rises 14 percent in second quarter 7:22am EDT Related Topics Hot Stocks » Asian Markets » A MasterCard logo is seen on a door outside a restaurant in New York, February 3, 2010. Credit: Reuters/Shannon Stapleton Wed Jul 31, 2013 8:29am EDT (Reuters) - MasterCard Inc (MA.N) reported a better-than-expected 21 percent rise in quarterly profit as more people used cards to make payments, sending its shares up 3 percent before the bell. The world's second-largest payment network's net income rose to $848 million, or $6.96 per share, in the second quarter, from $700 million, or $5.55 per share, a year earlier. Net revenue rose 15 percent to $2.10 billion. Analysts on average had expected earnings of $6.30 per share on revenue of $2.00 billion, according to Thomson Reuters I/B/E/S. "We had a very good second quarter supported by increases in volume and transactions in all regions of the world despite slow economic growth globally," Chief Executive Ajay Banga said in a statement on Wednesday. Annual growth in MasterCard's U.S. purchase volumes rose 7 percent from a year earlier. Worldwide purchase volume increased 12 percent on a local currency basis to $734 billion. MasterCard shares closed at $601.42 on the New York Stock Exchange on Tuesday. They have risen about 22 percent since the beginning of the year. (Reporting by Tanya Agrawal in Bangalore; Editing by Sriraj Kalluvila) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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