MasterCard meets 2Q profit forecasts
PURCHASE, N.Y. (AP) — MasterCard Inc. (MA) on Wednesday reported second-quarter net income of $921 million.
The Purchase, New York-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring costs, were 85 cents per share.
The results met Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was also for earnings of 85 cents per share.
The processor of debit and credit card payments posted revenue of $2.39 billion in the period, missing Street forecasts. Fourteen analysts surveyed by Zacks expected $2.42 billion.
MasterCard shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 2 percent. The stock has risen 25 percent 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 http://www.zacks.com/ap/MA
Keywords: MasterCard, Earnings Report, Priority Earnings