MasterCard 2Q earnings climb as revenue grows

AP News
Posted: Jul 31, 2013 8:46 AM

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.