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MasterCard's profit rises 12.7 pct

May 2 MasterCard Inc, the world's second-largest payments network, reported a 12.7 percent increase in quarterly profit, as people spent more using credit and debit cards.

MasterCard's net income rose to $1.08 billion, or $1.00 per share, in the first quarter ended March 31, from $959 million, or 86 cents per share, a year earlier. (mstr.cd/2qthx67)

The Purchase, New York-based company's revenue rose 11.8 percent to $2.73 billion. (Reporting by Nikhil Subba in Bengaluru; Editing by Sai Sachin Ravikumar)

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