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BREAKING NEWS

Mastercard posts nearly 31% rise in quarterly profit

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(Reuters) – Mastercard Inc <MA.N> reported a 30.5% rise in quarterly profit on Tuesday, as a robust economy encouraged customers to spend more and that boosted fees for the world’s second-largest payment processor.

The company’s net income rose to $2.05 billion, or $2 per share, in the second quarter ended June 30, from $1.57 billion, or $1.5 per share, a year earlier. (https://bit.ly/2YrlOel)

On an adjusted basis, the company earned $1.89 per share. Analysts on average had expected a profit of $1.83, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)

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