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Mastercard quarterly profit rises 33 percent

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Mastercard quarterly profit rises 33 percent
FILE PHOTO - Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration   -   Copyright  Benoit Tessier(Reuters)
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(Reuters) – Mastercard Inc reported a 33 percent rise in adjusted quarterly profit on Thursday, as it processed more transactions during the holiday shopping season.

Adjusted net income rose to $1.6 billion, or $1.55 per share, in the fourth quarter ended Dec 31 from $1.2 billio (913.4 million pounds), or $1.14 per share, a year earlier.

Net revenue rose to $3.8 billion from $3.3 billion a year ago.

Analysts on average were looking for a profit of $1.52 per share and revenue of $3.79 billion, according to IBES data from Refinitiv, although it was not immediately clear if the numbers were comparable.

Rival Visa Inc reported an 18 percent rise in quarterly profit on Wednesday, beating analysts’ estimates on higher transaction volumes.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D’Silva)

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