PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Thursday reported fourth-quarter net income of $899 million.
The Purchase, New York-based company said it had profit of 87 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.55 per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The processor of debit and credit card payments posted revenue of $3.81 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $3.79 billion.
MasterCard shares have climbed 8 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 per cent. The stock has climbed 22 per cent in the last 12 months.
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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
The Associated Press
