PURCHASE, N.Y. (AP) " MasterCard Inc. reported fourth-quarter profit of $933 million, beating Wall Street expectations, but fell short on revenue projections.
The Purchase, New York, company posted net income of 86 cents per share, compared with 79 cents for the same quarter last year.
The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The processor of debit and credit card payments posted revenue of $2.76 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $2.78 billion. The company reported revenue of $2.51 billion for the same period in 2015.
For the year, the company reported profit of $4.06 billion, or $3.69 per share. Revenue was reported as $10.78 billion. For the same period last year, Mastercard reported $3.8 billion, or $3.36 per share, and full-year profit of $9.66 billion.
MasterCard shares fell about 3 percent in morning trading, to $106.33. Shares have risen about 3 percent since the beginning of the year and about 20 percent in the last 12 months.
This story was generated in part 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
Keywords: MasterCard, Earnings Report, Priority Earnings
This story has been automatically published from the Associated Press wire which uses US spellings