News

MasterCard beats Street 2Q forecasts

PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Thursday reported second-quarter profit of $983 million.

On a per-share basis, the Purchase, New York-based company said it had profit of 89 cents. Earnings, adjusted for non-recurring costs, were 96 cents per share.

The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The processor of debit and credit card payments posted revenue of $2.69 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $2.6 billion.

MasterCard shares have fallen nearly 4 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 per cent. The stock has decreased roughly 1 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