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Global growth boosts MasterCard 4Q net income

Source : AP
Last Updated: Thu, Jan 31, 2013 13:30 hrs

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Net income rose to $605 million, or $4.86 per share, from $19 million, or 15 cents per share, a year earlier.

Net revenue rose 10 percent to $1.90 billion.

The Purchase, N.Y.-based company took a charge of nearly $500 million in the year-earlier quarter. The charge covered the cost of a settlement with retailers over the fees they pay on credit card transactions.

The company's latest results beat analysts' estimates, sending MasterCard stock sharply higher in pre-market trading.




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