MA

Mastercard profit falls as pandemic hits spending volumes

Credit: REUTERS/BENOIT TESSIER

Oct 28 (Reuters) - Mastercard Inc MA.N reported a 28% slump in quarterly profit on Wednesday as fewer people used its cards to shop, travel and pay bills during the COVID-19 pandemic.

Net income fell to $1.5 billion, or $1.51 per share, in the third quarter ended Sept. 30 from $2.1 billion, or $2.07 per share, a year earlier.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M.)

((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780; Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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