MasterCard profit rises 11.1 percent

MasterCard Inc, the operator of the world's second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes increased. The company's net income rose to $890 million, or 79 cents per share, in the fourth quarter ended December 31 from $801 million, or 69 cents per share, a year earlier. Acquisitions had a dilutive impact of 3 cents per diluted share on earnings, the company said.
Analysts on average estimated earnings of 79 cents per share, according to Thomson Reuters I/B/E/S. Net revenue rose 4 percent to $2.52 billion. MasterCard's gross dollar volume - the total value of transactions made by its customers - rose 12 percent to $1.2 trillion on a local currency basis. Cross-border volumes - the value of transactions made by customers outside the card-issuer's country - also rose 12 percent. MasterCard's shares were up 1.2 percent at $84.40 in premarket trading on Friday.