MA MasterCard Incorporated

By Allison Prang 

Mastercard Inc.'s profit rose 11% from the comparable quarter a year earlier, driven by an increase in revenue.

The credit-card company's profit came in at $2.11 billion, while earnings were $2.07 a share, up from $1.82 a share.

Net revenue was $4.47 billion, up 15%. Adjusted earnings were $2.15 a share. Both beat estimates from analysts polled by FactSet.

The value of its card transactions, or gross dollar volume, increased 12% to $1.65 trillion.

Shares of Mastercard rose 1.1% premarket.

During the third quarter, Mastercard said it was in a $3.19 billion deal -- what it said is its biggest yet -- to buy the majority of the corporate services businesses of Nets A/S, a Danish payment services company. The assets Mastercard is buying include account-to-account payments infrastructure.

Mastercard also reported $100 million in net losses on equity investments. Income tax expense also rose to $426 million, up 17%.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

October 29, 2019 09:10 ET (13:10 GMT)

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