MasterCard 2Q profit jumps 31%, tops view

NEW YORK (AP) — MasterCard (MA) says an increase in international transactions, price increases and cost cutting helped lift its second quarter profit 31%.

Worldwide purchasing volume rose 8%, while the number of transactions the company handled was basically flat. U.S. credit card use edged down and debit card use was flat.

Worldwide, it says both credit and debit card use showed solid gains.

READ: MasterCard's press release

The payments processor, based in Purchase, N.Y., says net income rose to $458 million, or $3.49 per share, from $349 million, or $2.67 per share, a year ago.

Revenue rose 7% to $1.37 billion.

Wall Street expected earnings of $3.33 per share on revenue of $1.38 billion.

Its shares slipped 9 cents to $202.43 in premarket tradfing.

http://www.usatoday.com/money/companies ... card_N.htm