PURCHASE, N.Y. — MasterCard Inc. today reported third-quarter net income of $1.51 billion.
On a per-share basis, the company said it had profit of $1.51. Earnings, adjusted for investment costs, were $1.60 per share.
The results missed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The processor of debit and credit card payments posted revenue of $3.84 billion in the period, also missing Street forecasts. Twelve analysts surveyed by Zacks expected $3.94 billion.
MasterCard shares have increased 6% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5%. The stock has climbed 15% in the past 12 months.