MasterCard profit rises 11.1 percent as purchase volumes jump

[January 29, 2016]  (Reuters) - MasterCard Inc, the operator of the world's second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes rose.

The company's net income rose to $890 million, or 79 cents per share, in the fourth quarter ended Dec. 31 from $801 million, or 69 cents per share, a year earlier.

MasterCard's gross dollar volume — the total value of transactions made by its customers — rose 12 percent to $1.2 trillion on a local currency basis.

(Reporting By Sudarshan Varadhan and Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

[© 2016 Thomson Reuters. All rights reserved.]

Copyright 2016 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.