MasterCard tops 4Q profit forecasts

Markets Associated Press

MasterCard Inc. (MA) on Tuesday reported fourth-quarter profit of $933 million.

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The Purchase, New York-based company said it had net income of 86 cents per share.

The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The processor of debit and credit card payments posted revenue of $2.76 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $2.78 billion.

For the year, the company reported profit of $4.06 billion, or $3.69 per share. Revenue was reported as $10.78 billion.

MasterCard shares have risen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 2 percent. The stock has risen 31 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MA

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Keywords: MasterCard, Earnings Report, Priority Earnings