BUSINESS

MasterCard profits advances as revenue grows, led by emerging markets

07/31/2013 08:47 EDT | Updated 09/30/2013 05:12 EDT
NEW YORK, N.Y. - Mastercard, the payments processing company, reported a 19 per cent increase in its second-quarter profit as its purchase volumes increased.

The results topped Wall Street expectations. Its shares jumped more than 3 per cent.

The company, based in Purchase, N.Y., earned $848 million, or $6.96 a share, in the second quarter. That's up from $700 million, or $5.56 a share, a year ago.

Revenue rose 15 per cent, to $2.1 billion from $1.8 billion.

Analysts surveyed by FactSet expected earnings of $6.31 a share on revenue of $2 billion.

Mastercard shares rose $20.59, or 3.4 per cent, to $622.01 in premarket trading.