The debit and credit card company's net income was $931 million, or 80 cents per share, up from $848 million, or 70 cents per share, a year earlier.
Net revenue gained 13.4% to $2.38 billion.
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Analysts on average had expected the company to earn 77 cents per share, on revenue of $2.31 billion, according to Thomson Reuters I/B/E/S.
Shares of MasterCard are down -1.54% to $74.74 in early morning trade.
TheStreet Ratings team rates MASTERCARD INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MASTERCARD INC (MA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."