Mastercard Shares Rise After First-quarter Earnings Beat

Shares of Mastercard Inc. rose 2% in premarket trade Tuesday after the credit card company beat first-quarter earnings expectations. It reported net income of $1.1 billion, of $1 per share, up from $1 billion, or 86 cents per share, in the year-earlier period. It reported adjusted earnings per share of $1.01, above the FactSet consensus of 95 cents. Revenue was $2.7 billion, up from $2.4 billion and in line with the FactSet consensus of $2.7 billion. Shares of Mastercard have gained 11% in the past three months, compared to the S&P 500's gain of 5%.