MasterCard: Q1 Earnings Snapshot

PURCHASE, N.Y. — MasterCard Inc. today reported first-quarter net income of $2.63 billion.

The company said it had profit of $2.68 per share. Earnings, adjusted for non-recurring costs, were $2.76 per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.

The processor of debit and credit card payments posted revenue of $5.17 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $4.9 billion.