MasterCard first quarter performance beats analysts’ expectations

MasterCard, operator of the world's second-largest payments network, ended last quarter with a profit of 959 million dollars, or 86 cents per share, down from 1.02 billion, or 89 cents per share, in the same period the previous year.

Analysts' expectations have been exceeded, which included earnings per share of 85 cents. Revenue rose to 2.45 billion dollars from 2.23 billion 12 months earlier and exceeding expectations of $ 2.38 billion.

The company said that processed transactions climbed 14 percent in the quarter. Worldwide purchase volume increased 12 percent, on a local currency basis.