MasterCard 1Q profit rises 14 percent

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Photo - FILE  -  This Sept. 21, 2011, file photo. shows a MasterCard sign on a revolving door in New York. Mastercard Inc. reports quarterly earnings on Thursday, May 1, 2014.   (AP Photo/Mark Lennihan, File)
FILE - This Sept. 21, 2011, file photo. shows a MasterCard sign on a revolving door in New York. Mastercard Inc. reports quarterly earnings on Thursday, May 1, 2014. (AP Photo/Mark Lennihan, File)
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MasterCard says its net income climbed 14 percent in the first quarter, as more spending by cardholders worldwide lifted the company's results.

Net income rose to $870 million, or 73 cents per share, in the three months ending March 31, the company reported Wednesday. That compares with net income of $766 million, or 62 cents per share, in the same three months of last year.

Revenue increased 14 percent to $2.18 billion, from $1.91 billion the year before.

Analysts, on average, expected earnings of 72 cents per share on $2.14 billion in revenue in the latest quarter, according to the data provider FactSet.

MasterCard runs one of the world's largest payment networks.

In pre-market trading, MasterCard's stock rose 85 cents to $74.40.

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