Mastercard reports profit beat on steady consumer spending
Mastercard posted a stronger quarterly profit than expected as consumer spending held up despite economic uncertainty. Shares rose following the report, echoing similar recent earnings beats from rivals Visa and American Express.
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MASTERCARD INC - A posted an adjusted profit of $5.31 per share on Thursday, surpassing estimates as consumer spending held steady. Shares rose over 4% in afternoon trading, mirroring gains across major payment networks. Steady labor markets and wage growth helped cushion consumers against higher living costs and soaring fuel prices driven by tensions involving Iran .
