PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Tuesday reported third-quarter profit of $2.11 billion.
The Purchase, New York-based company said it had net income of $2.07 per share. Earnings, adjusted for non-recurring costs, came to $2.15 per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The processor of debit and credit card payments posted revenue of $4.47 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $4.42 billion.
MasterCard shares have climbed 46% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has climbed 40% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MA
The Associated Press