MasterCard says its net income climbed 14 percent in the first quarter, as more spending by cardholders worldwide lifted the company’s results.
Net income rose to $870 million, or 73 cents per share, in the three months ending March 31, the company reported Wednesday. That compares with net income of $766 million, or 62 cents per share, in the same three months of last year.
Revenue increased 14 percent to $2.18 billion, from $1.91 billion the year before.
Analysts, on average, expected earnings of 72 cents per share on $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 $74.40.
