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MasterCard Profit Tops Estimates as Consumer Spending Climbs

MasterCard Inc., the second-largest payments network, posted profit that beat analysts’ estimates as card spending climbed in the U.S. and Asia.

Third-quarter net income fell 3.7 percent to $977 million, or 86 cents a share, from $1.02 billion, or 87 cents, a year earlier, the Purchase, New York-based company said Thursday in a statement. Excluding a $50 million charge tied to the termination of the company’s U.S. pension plan, profit was 91 cents a share, compared with the 88-cent average estimate of 31 analysts surveyed by Bloomberg.

Chief Executive Officer Ajay Banga is investing in new technologies and forging partnerships with companies including Apple Inc. as consumers increasingly use mobile phones and other digital devices to make payments. The company is among backers of Barry Silbert’s Digital Currency Group, which invests in bitcoin-related businesses. Even as consumers globally continue to forgo cash and checks for electronic...


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