Mastercard shares rise on profit announcement
1 February 2008
Mastercard Inc., has seen its shares on the New York stock exchange enjoy their biggest gain in more than three months.
Shares rose $18 to trade at $207 in late afternoon trade after news that the second largest payment company said that fourth-quarter profits rose sevenfold.
Mastercard shares have been surging for the past year (86%), due in no small part to many consumers using credit to pay their bills as they struggle to maintain their home loan repayments.
Over the last 12 months, the credit card company has seen its net income rise to $304.2 million from $40.9 million.
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