MasterCard tops Street 1Q forecasts

Markets Associated Press

MasterCard Inc. (MA) on Tuesday reported first-quarter profit of $1.08 billion.

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The Purchase, New York-based company said it had profit of $1 per share. Earnings, adjusted for non-recurring costs, came to $1.01 per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The processor of debit and credit card payments posted revenue of $2.73 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $2.64 billion.

MasterCard shares have increased 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has climbed 20 percent in the last 12 months.

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This story was generated by Automated Insights 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