April 29, 2020 / 12:25 PM / in a month

Mastercard's profit falls but revenue rises

April 29 (Reuters) - Mastercard Inc reported a 7% decline in its quarterly profit on Wednesday as costs such as rebates and incentives rose but revenue rose as the dollar volume of transactions processed rose.

Net income fell to $1.7 billion, or $1.68 per share, in the first quarter from $1.9 billion, or $1.80 per share, a year earlier. Revenue rose to $4 billion from $3.9 billion. (Reporting by Noor Zainab Hussain in Bengaluru and Sinéad Carew in New York)

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