Mastercard Tops 3q Profit Forecasts

NEW YORK (AP) — Payment processing company MasterCard Inc. said its adjusted third-quarter profits rose slightly from a year ago, as the company saw solid growth in activity worldwide on its payment network. MasterCard said Thursday it had net income of $1.03 billion, excluding a one-time $50 million charge tied to the termination of the company's pension plan. The results surpassed Wall Street expectations, with analysts surveyed by Zacks Investment Research looking for earnings of 88 cents per share. Payment volume on MasterCard's network, a key measure of the company's business, was up 12.3 percent to $852 billion in the quarter on a local currency basis.

 

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