UPDATE: MasterCard Posts Higher Q2 Profit

MasterCard

reported a better-than-expected second-quarter profit. MasterCard's quarterly profit surged to $848 million, or $6.96 per share, from $700 million, or $5.55 per share, in the year-ago period. Its revenue climbed 15% to $2.1 billion from $1.82 billion. However, analysts were projecting earnings of $6.30 per share on revenue of $1.90 billion. MasterCard shares gained 2.92% to $619.00 in pre-market trading.