(Reuters) - Mastercard Inc beat second-quarter profit estimates on Thursday but the world's second-largest payments processor raised its full-year guidance for expenses, sending its shares 3 percent lower before the opening bell.
The company now expects operating expenses to grow in a "high-teens" percentage in the year, compared with its prior forecast of a mid-teens rise.
Operating expenses rose 23.5 percent to $1.73 billion in the second quarter ended June 30, as the company continues to invest in safety and security and digital products.
Mastercard, which processes more than 65,000 transactions a minute, said gross dollar volumes rose 15.3 percent to $1.48 trillion in the quarter. The United States, the company's largest market, accounted for about 30 percent of the total.
Cross-border volumes - the value of transactions made by card holders abroad - increased 23.6 percent on a U.S. dollar basis.
Net income jumped 33 percent to $1.57 billion, or $1.50 per share, in the quarter ended June 30. (https://mstr.cd/2NLUpL3)
On an adjusted basis, the company earned $1.66 per share, beating the average analyst estimate of $1.53, according to Thomson Reuters I/B/E/S.
The Purchase, New York-based company's total revenue rose 20 percent to $3.67 billion, topping estimates of $3.65 billion.
(Reporting by Nikhil Subba in Bengaluru; Editing by Maju Samuel)
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