A Master at the card game
MasterCard reported a better-than-expected 21 per cent rise in quarterly profit as more people used cards to make payments.
The world’s second-largest payment network’s net income rose to $848m, or $6.96 per share, in the second quarter, from $700m, or $5.55 per share, a year earlier. Net revenue rose 15 per cent to $2.10bn.
Analysts on average had expected earnings of $6.30 per share on revenue of $2.00bn.
“We had a very good second quarter supported by increases in volume and transactions in all regions of the world despite slow economic growth globally,” chief executive Ajay Banga said.