Mastercard profit rises 27 percent as it processes more payments

April 30, 2019

(Reuters) – Mastercard Inc reported a 26.7 percent rise in quarterly profit on Tuesday, as a strong U.S. job market and a boom in online shopping boosted transaction volumes on the company’s payment network.

Net income rose to $1.9 billion, or $1.80 per share, in the first quarter ended March 31 from $1.5 billion, or $1.41 per share, a year earlier.

On an adjusted basis, the company earned $1.78 per share. Analysts were expecting net income of $1.66 per share, according to IBES data from Refinitiv. It was not immediately clear if the number was comparable.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D’Silva)

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