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Mastercard’s First Quarter Profit Up 24 Percent, Beating Expectations

NEW YORK (Maria Aspan) – MasterCard Inc’s first-quarter profit rose 24 percent, beating expectations, as consumers spent more money on their credit and debit cards.The world’s second-largest card processing network on Tuesday reported a prof…

NEW YORK (Maria Aspan) – MasterCard Inc’s first-quarter profit rose 24 percent, beating expectations, as consumers spent more money on their credit and debit cards.

The world’s second-largest card processing network on Tuesday reported a profit of $562 million, or $4.29 per share. That compares with $455 million, or $3.46 per share, in the year-ago period.

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