PURCHASE, N.Y. (AP) _ MasterCard Inc. (MA) on Thursday reported second-quarter earnings of $1.42 billion.

On a per-share basis, the Purchase, New York-based company said it had net income of $1.41. Earnings, adjusted for non-recurring gains, were $1.36 per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The processor of debit and credit card payments posted revenue of $3.34 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $3.23 billion.

MasterCard shares have increased almost 4% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 1%. The stock has increased nearly 10% in the last 12 months.

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

Automated Insights, source Associated Press News