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MasterCard first-quarter profit hits record on growing international business

MasterCard first-quarter profit hits record on growing international business

MasterCard Inc., the world's second-biggest credit card franchise, on Wednesday reported record first-quarter profits from growth in South Asia, the Middle East, Africa and Latin America as well as a strong euro, which pushed sales up 2.5 percent.
The Purchase, New York-based company said profit for the first three months of the year rose to $214.9 million (euro157.96 million), or $1.57 per share, from $126.7 million, or 94 cents per share, in the year-ago period. Revenue climbed 24 percent to $915.1 million (euro672.62 million) from $738.5 million.
Analysts polled by Thomson Financial forecast earnings of $1.15 per share on revenue of $840 million (euro617.42 million).
"We are very pleased with our first-quarter financial results, which reflect the highest quarterly net income in MasterCard's history," said President and Chief Executive Robert W. Selander in a statement.
MasterCard handled $2 trillion (euro1.47 trillion) in payments last year as consumers charged purchases on their debit and credit cards 16.1 billion times.


Updated : 2021-08-05 03:25 GMT+08:00