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MasterCard: 1Q Earnings Snapshot

Last Updated Apr 29, 2020 at 5:20 am PDT

PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Wednesday reported first-quarter profit of $1.69 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $1.68. Earnings, adjusted for non-recurring costs, came to $1.83 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The processor of debit and credit card payments posted revenue of $4.01 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $3.96 billion.

MasterCard shares have declined 11% since the beginning of the year, while the Standard & Poor’s 500 index has declined 11%. The stock has risen roughly 8% in the last 12 months.

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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

The Associated Press