MasterCard, Inc. (NYSE:MA) reported a whopping 82% jump in earnings in its first full quarter as a public company. The company's May IPO where its shares debuted at $39 a share was the richest in two years. Around 11:30 today, MA shares were changing hands at $86, up 16% today.

The credit card company posted third-quarter net of $193 million, or $1.42 a share, compared with $106 million, or 79 cents, a year earlier. Revenue rose from $792 million in the third quarter last year to $902 million, a 14% increase attributed to robust credit-card spending in retail stores. Analysts were expecting earnings of $1.08 a share on revenue of $872 million.

With the retail industry posting a 3.8% rise in same-store sales in September, this positive retail environment contributed to MasterCard's results. MasterCard's gross dollar volume rose 15% to $502 million. World-wide purchase volume rose to $365 billion, a 17% increase over the same period last year. In the U.S. and Europe purchase volume grew by 19% and 33%, respectively. Also, the company increased its cards in circulation by 13% to 818 million cards.

Morgan Stanley analysts said MasterCard's results were a "major upside surprise" and praised the company lower advertising costs.

Executives of the company say the company has succeeded "in displacing paper-based forms of payment in all corners of the globe." Quite frankly, as a consumer, I'd have to agree. The cash I carry around is minimal. More than that, in spending on Internet purchases, one prominent choice of payment is credit cards, and with download music business booming, the company is positive on future growth.