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Mastercard profit jumps 33 percent

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By Reuters
Mastercard profit jumps 33 percent
A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White/Illustration   -   Copyright  THOMAS WHITE(Reuters)

(Reuters) – Mastercard Inc’s <MA.N> third-quarter profit rose 33 percent, it said on Tuesday, joining rival payments network Visa Inc <V.N> in reporting higher earnings led by rising U.S. consumer spending.

Mastercard’s net income climbed to $1.90 billion or $1.82 per share in the three months ended Sept. 30, from $1.43 billion or $1.34 per share a year earlier.

Excluding one-time items, the company earned $1.78 per share. Analysts on average had expected earnings of $1.68 per share, according to Refinitiv data. It was not immediately clear if the figures were comparable.

Visa last week reported an 11 percent surge in third-quarter profit.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Sai Sachin Ravikumar)