MasterCard Says Russia Will Have Impact on Full-Year Sales
MasterCard, the world's second-largest credit card provider, said income rose 14% over the quarter, a result of customers increasingly relying on their cards to shop.
MasterCard shares are spiking after the company reported a double-digit rise in profits over the quarter. The credit card provider, the world's second-largest, said income rose 14% over the quarter, a result of customers increasingly relying on their cards to shop. However, even as consumer spending improves, the company warned of lower annual sales growth, partially due to tensions in Russia. MasterCard earned 73 cents a share, a penny over forecasts, while revenue surged 14% to $2.18 billion.
