NEW YORK (AP) — MasterCard says its third-quarter profit swelled as it continued to reduce costs and the number of transactions it processed rose.
However, worldwide purchase volume grew only 0.4 percent, providing further evidence a global economic recovery is moving slowly.
The credit card and global payments processor earned $452.2 million, or $3.45 per share, during the July-September quarter. It lost $193.6 million, or $1.48 per share, a year ago.
MasterCard’s revenue totaled $1.36 billion, a 2 percent increase from the same quarter last year. Analysts expected earnings of $2.94 per share for the quarter on revenue of $1.35 billion.
Its shares slipped $1.63 to $221.02 in premarket trdaing.
