Shares of Mastercard Inc. are down 3.1% in premarket trading after the company reported better-than-expected earnings and in-line revenue. Net income rose to $1.6 billion, or $1.50 a share, from $1.2 billion, or $1.10 a share, in the year-earlier period. Adjusted earnings per share climbed to $1.66 from $1.10, which came in above the FactSet consensus expectation for $1.53. The company reported revenue of $3.67 billion, up from $3.1 billion in the year-ago quarter. Analysts had been expecting $3.65 billion. Shares are up 63% over the past 12 months, while the S&P 500 has gained 14%.
Read on Market Watch