Shares of MasterCard (MA) have gained ground after the company beat earnings expectations.
MasterCard reported earnings for the third quarter that were above Wall Street expectations. MA reported net income of $1.4 billion, which was up from $1.2 billion a year ago. Furthermore, the company reported earnings of $1.34 per share which was up from $1.08 per share during the same period a year ago. FactSet’s earnings consensus was for $1.23 per share. In addition, revenue was $3.4 billion, compared with $2.9 billion a year ago, and above the FactSet consensus of $3.3 billion.
It was earlier reported that the company has outperformed its competitors in the data processing and outsourced services industry.