PURCHASE, N.Y. (AP) 鈥� PURCHASE, N.Y. (AP) 鈥� MasterCard Inc. (MA) on Thursday reported first-quarter net income of $3.88 billion.
The Purchase, New York-based company said it had net income of $4.35 per share. Earnings, adjusted for restructuring costs and investment costs, were $4.60 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.40 per share.
The processor of debit and credit card payments posted revenue of $8.4 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $8.29 billion.
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