Mastercard: profits driven by consumer and travel

(CercleFinance.com) - The N.
Y.-based group beat Wall Street expectations with its first-quarter profit, helped by resilient household spending and a recovery in the travel sector.

Its net income reached $2.4 billion, or $2.47 per share, compared to $2.6 billion ($2.68) a year earlier. On an adjusted basis, EPS on a diluted basis came to $2.80, compared with a consensus of $2.72.

The value of transactions processed by Mastercard swelled 15% in the first quarter, while volume growth reached 17% in local currencies.

But the preliminary U.S. first-quarter gross domestic product (GDP) statistic released this morning showed a sharp slowdown in growth, which could weigh on household consumption.

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