Credit card giant MasterCard Inc. (NYSE: MA) reported earlier today that net profit for the third quarter surged 63% on a year-over-year basis, hitting $314 million, or $2.31 per share. In the same reporting period in 2006, MA banked $193 million, or $1.42 per share. MA credited this improving profit to increased cardholder spending, particularly internationally.
Excluding items related to the sale of MasterCard's investment in Redecard SA, the company earned $1.80 per share, obliterating The Street estimates of $1.42 per share.
Revenue jumped 20% during the quarter to a record-setting $1.08 billion, from $902 million in the year-ago period. This number also exceeded Wall Street's consensus outlook, for revenue of $1.03 billion.
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