Mastercard Inc. (NYSE:MA) saw its shares gain in pre-market trading after the payments and credit card company saw its fourth-quarter profit and revenue beat market expectations.
Excluding non-recurring items, such as a one-off charge for US tax changes, the NYSE-listed firm reported earnings per share of US$1.14, above consensus of US$1.12 as revenue rose by 20% to US$3.31bn, also beating consensus of US$3.25bn.
READ: Mastercard ticks up as credit card giant unveils increased quarterly dividend, new share buy-back programme
The group’s headline net income, however, fell to US$227mln, or 21 US cents a share, down from US$933mln, or 86 US cents a share a year earlier.
Mastercard said gross dollar volumes increased by 13% to $1.4trn, as switched transactions rose 17% to 17.7bn and cross-border volumes grew 17%.
The company said the increases were partially offset by an increase in rebates and incentives.
In pre-market trading, Mastercard shares were up 2.6% at US$173.50.