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MasterCard beats 4Q profit forecasts

PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Friday reported fourth-quarter earnings of $890 million.

The Purchase, New York-based company said it had profit of 79 cents per share.

The results topped Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The processor of debit and credit card payments posted revenue of $2.52 billion in the period, which fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $2.55 billion.

For the year, the company reported profit of $3.81 billion, or $3.35 per share. Revenue was reported as $9.67 billion.

MasterCard shares have declined 14 per cent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 7 per cent. The stock has climbed slightly more than 3 per cent in the last 12 months.

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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 http://www.zacks.com/ap/MA

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Keywords: MasterCard, Earnings Report, Priority Earnings