MasterCard profits rise

MasterCard says its profit rose 17 per cent in the first quarter, as consumers across the globe spent more on their MasterCards. The payment processor reported net income of US$1.02 billion (A$1.27 billion), up from US$870 million a year earlier. On a per share basis, MasterCard earned 89 cents versus 73 cents a year earlier. Net revenue was US$2.23 billion. MasterCard’s profits beat expectations but the company’s revenue fell slightly short. Analysts surveyed by FactSet were looking

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