NEW YORK (AP) — Mastercard, the payments processing company, reported a 19 percent increase in its second-quarter profit as its purchase volumes increased.
The results topped Wall Street expectations. Its shares jumped more than 3 percent.
The company, based in Purchase, N.Y., earned $848 million, or $6.96 a share, in the second quarter. That's up from $700 million, or $5.56 a share, a year ago.
Revenue rose 15 percent, to $2.1 billion from $1.8 billion.
Analysts surveyed by FactSet expected earnings of $6.31 a share on revenue of $2 billion.
Mastercard shares rose $20.59, or 3.4 percent, to $622.01 in premarket trading.