MasterCard Quarterly Profit Falls, Costs Rise

Reuters

Credit and debit card issuer MasterCard Inc's (NYSE:MA) quarterly profit fell 1.1 percent, hurt by higher expenses.

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The company's operating expenses rose 15.6 percent to $1.14 billion in the second quarter ended June 30.

Net income fell to $921 million, or 81 cents per share, from $931 million, or 80 cents per share, a year earlier.

Net revenue rose 0.9 percent to $2.39 billion.

(Reporting by Sudarshan Varadhan in Bengaluru; Editing by Kirti Pandey)