MasterCard 2Q Profit and Sales Top Estimates, Shares Rise


MasterCard stock rose Thursday after the credit and debit card payment processor posted stronger results than analysts expected.

MasterCard said its net income edged up to $983 million, or 89 cents per share, in the second quarter. Excluding one-time costs and gains the company earned 96 cents per share. Its revenue rose 13 percent to $2.69 billion.

Analysts expected MasterCard to report a profit of 90 cents per share on $2.6 billion in revenue, according to Zacks Investment Research.

The Purchase, New York company said it processed 14 percent more transactions than it did a year ago. MasterCard said it is also expanding into other types of payments: earlier this month it agreed to buy a 92-percent stake in Britain’s VocaLink Holdings for about $920 million. MasterCard said VocaLink’s technology allows for direct credit and debit payments between bank accounts and faster payments over mobile phones and the internet. It also runs a network of ATMs in the United Kingdom.

MasterCard Inc. stock rose $1.38, or 1.5 percent, to $95.13 in morning trading. The shares have slipped about 2 percent this year while the Standard & Poor’s 500 index has risen 6 percent.