Mastercard Incorporated Q1 Profit Increases, beats estimates

(RTTNews) - Mastercard Incorporated (MA) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $2.6 billion, or $2.68 per share. This compares with $1.8 billion, or $1.83 per share, in last year's first quarter.

Excluding items, Mastercard Incorporated reported adjusted earnings of $2.7 million or $2.76 per share for the period.

Analysts on average had expected the company to earn $2.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.8% to $5.2 billion from $4.2 billion last year.

Mastercard Incorporated earnings at a glance (GAAP) :

-Earnings (Q1): $2.6 Bln. vs. $1.8 Bln. last year. -EPS (Q1): $2.68 vs. $1.83 last year. -Analyst Estimate: $2.17 -Revenue (Q1): $5.2 Bln vs. $4.2 Bln last year.