By Allison Prang
Mastercard Inc.'s adjusted earnings and revenue for the third quarter were short of analysts' consensus estimates as cross-border volume fell by more than a third.
Mastercard logged $1.51 billion in profit and said earnings were $1.51 a share. That compares with a year ago when net income was $2.11 billion, or $2.07 a share, at the credit-card company.
Adjusted earnings were $1.60 a share. According to FactSet, analysts were expecting $1.65 a share.
Net revenue was $3.84 billion and fell 14% from a year ago. Analysts were expecting $3.95 billion.
Gross dollar volume, which is the value of card transactions, rose 1.2% on a local-currency basis. The company said cross-border volume on a local-currency basis tumbled 36%.
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(END) Dow Jones Newswires