News

MasterCard beats Street 1Q forecasts

PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Thursday reported first-quarter earnings of $959 million.

The Purchase, New York-based company said it had net income of 86 cents per share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The processor of debit and credit card payments posted revenue of $2.45 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $2.38 billion.

MasterCard shares have climbed 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5 per cent. The stock has climbed roughly 10 per cent in the last 12 months.

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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 http://www.zacks.com/ap/MA

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Keywords: MasterCard, Earnings Report, Priority Earnings