Mastecard scores a profit beat but its stock falls as spending growth slows

Mastercard reported fourth-quarter earnings Wednesday morning.The company posted fourth-quarter net income of $2.8 billion, or $2.97 a share, compared with $2.5 billion, or $2.62 a share, in the year-earlier period. On an adjusted basis, Mastercard MA, +1.05% earned $3.18 a share, whereas it earned $2.65 a share on the metric a year before. Analysts were looking for $3.08 a share.Mastercard’s revenue increased to $6.5 billion from $5.8 billion and matched the FactSet consensus view. The company saw a 10% in ...