- Associated Press - Tuesday, October 30, 2018

PURCHASE, N.Y. (AP) - MasterCard Inc. (MA) on Tuesday reported third-quarter profit of $1.9 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $1.82. Earnings, adjusted for non-recurring gains, came to $1.78 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The processor of debit and credit card payments posted revenue of $3.9 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $3.86 billion.

MasterCard shares have climbed 26 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped 1 percent. The stock has risen 29 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MA

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