PURCHASE, N.Y. — MasterCard Inc. (MA) on Thursday reported second-quarter net income of $1.18 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $1.10.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The processor of debit and credit card payments posted revenue of $3.05 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $2.98 billion.
MasterCard shares have risen 27 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 11 percent. The stock has risen 40 percent in the last 12 months.
Keywords: MasterCard, Earnings Report, Priority Earnings