MasterCard profits advances as revenue grows, led by emerging markets

  • Article by: STEVE ROTHWELL , AP Business Writer
  • Updated: July 31, 2013 - 7:50 AM

NEW YORK — Mastercard, the payments processing company, reported a 19 percent increase in its second-quarter profit as its purchase volumes increased.

The results topped Wall Street expectations. Its shares jumped more than 3 percent.

The company, based in Purchase, N.Y., earned $848 million, or $6.96 a share, in the second quarter. That's up from $700 million, or $5.56 a share, a year ago.

Revenue rose 15 percent, to $2.1 billion from $1.8 billion.

Analysts surveyed by FactSet expected earnings of $6.31 a share on revenue of $2 billion.

Mastercard shares rose $20.59, or 3.4 percent, to $622.01 in premarket trading.

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