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MasterCard beats Street 3Q forecasts

PURCHASE, N.Y. (AP) -- MasterCard Inc. (MA) on Tuesday reported third-quarter earnings of $1.43 billion.

On a per-share basis, the Purchase, New York-based company said it had net income of $1.34.

The results surpassed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.

The processor of debit and credit card payments posted revenue of $3.4 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $3.29 billion.

MasterCard shares have risen 44 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 15 percent. The stock has increased 39 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MA