MasterCard 1Q profit rises 14 per cent

MasterCard says its net income climbed 14 per cent in the first quarter, as more spending by cardholders worldwide lifted the company's results.
Net income rose to USD 870 million, or 73 cents per share, in the three months ending March 31, the company reported yesterday. That compares with net income of USD 766 million, or 62 cents per share, in the same three months of last year.
Revenue increased 14 per cent to USD 2.18 billion, from USD 1.91 billion the year before.
Analysts, on average, expected earnings of 72 cents per share on USD 2.14 billion in revenue in the latest quarter, according to the data provider FactSet.

MasterCard runs one of the world's largest payment networks.
In pre-market trading, MasterCard's stock rose 85 cents to USD 74.40.