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Mastercard's quarterly profit rises 21 percent

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Mastercard's quarterly profit rises 21 percent

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(Reuters) – Mastercard Inc <MA.N>, the world’s second-biggest payments network, reported a 21 percent rise in quarterly profit on Tuesday as consumers spent more globally and it fought for market share over other payment channels. Net income rose to $1.43 billion (£1.08 billion) or $1.34 per share in the third quarter ended Sept 30, from $1.18 billion or $1.08 per share. http://mstr.cd/2gYxlhy Analysts on average were looking for $1.23 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable. Net revenue rose 18 percent to $3.40 billion. Mastercard’s bigger rival Visa Inc <V.N> posted a rise in quarterly profit that beat estimates, fuelled by higher spending.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr)
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