PURCHASE, N.Y. (AP) — MasterCard Inc. (MA) on Tuesday reported first-quarter net income of $1.86 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $1.80. Earnings, adjusted for pretax gains, were $1.78 per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The processor of debit and credit card payments posted revenue of $3.89 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $3.87 billion.
MasterCard shares have increased 31% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. The stock has climbed 41% in the last 12 months.
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