MasterCard tops Street 2Q forecasts

Markets Associated Press

MasterCard Inc. (MA) on Thursday reported second-quarter net income of $1.18 billion.

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On a per-share basis, the Purchase, New York-based company said it had profit of $1.10.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The processor of debit and credit card payments posted revenue of $3.05 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $2.98 billion.

MasterCard shares have risen 27 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. The stock has risen 40 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