MasterCard Inc. (MA) on Thursday reported second-quarter net income of $1.18 billion.
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.
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
Keywords: MasterCard, Earnings Report, Priority Earnings