Mastercard's Profit More Than Doubles
January 29 2020 - 9:09AM
Dow Jones News
By Allison Prang
Mastercard Inc.'s profit rose in the fourth quarter compared
with a year earlier when the company recorded litigation costs.
The credit-card company said fourth-quarter net income jumped to
$2.1 billion, or $2.07 a share. Profit more than doubled from a
year ago when Mastercard logged more than $750 million in
litigation charges. Adjusted earnings were $1.96 a share, up from
$1.55 a share.
Analysts' consensus, according to FactSet, estimated earnings of
$1.87 a share.
Mastercard also recorded a net gain on its equity investments of
$119 million in the fourth quarter.
Net revenue at the company was $4.41 billion, up 16%. Analysts
were expecting $4.4 billion.
The volume of Mastercard's card transactions was $1.73 trillion,
up 11%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
January 29, 2020 08:54 ET (13:54 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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