PURCHASE, N.Y. — MasterCard Inc. (MA) on today reported first-quarter profit of $1.83 billion.
The company said it had net income of $1.83 per share. Earnings, adjusted for non-recurring gains, came to $1.74 per share.
The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The processor of debit and credit card payments posted revenue of $4.16 billion in the period, also surpassing Street forecasts. Fourteen analysts surveyed by Zacks expected $3.97 billion.
MasterCard shares have increased 11% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has increased 50% in the past 12 months.