MasterCard: 3Q Earnings Snapshot

MasterCard Inc. (MA) on Tuesday reported third-quarter profit of $1.9 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $1.82. Earnings, adjusted for non-recurring gains, came to $1.78 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The processor of debit and credit card payments posted revenue of $3.9 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $3.86 billion.

MasterCard shares have climbed 26 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped 1 percent. The stock has risen 29 percent in the last 12 months.

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MA