MasterCard’s 4th quarter profit climbs 3 per cent, but adjusted results miss expectations

CP27027812
FILE - In this Thursday, April 25, 2013, file photo, MasterCard credit cards are displayed for a photographer in Montpelier, Vt. MasterCard Inc. reports quarterly financial results before the market opens on Friday, Jan. 31, 2014. (AP Photo/Toby Talbot)

PURCHASE, N.Y. – MasterCard says its fourth-quarter earnings climbed 3 per cent as higher revenue balanced a jump in expenses, but results missed expectations.

The payment networks company earned $623 million, or 52 cents per share, in the three months ended Dec. 31. That compares with $605 million, or 49 cents per share, a year earlier.

Earnings in the most recent quarter totalled 57 cents per share, not counting a litigation-related charge.

Revenue climbed 12 per cent to $2.13 billion, as consumers hit stores for holiday shopping.

Analysts anticipated adjusted earnings of 60 cents per share on $2.14 billion in revenue.

Rival Visa Inc., along with card issuers American Express Co. and Discover Financial Services, reported higher card spending during the holiday season.

MasterCard’s stock is down more than 6 per cent in premarket trading.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles