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Mastercard profit falls 17% as cross-border spending volumes slump

Jan 28 (Reuters) - Payments processor Mastercard Inc on Thursday posted a 17% fall in fourth-quarter profit, hurt mainly by a slump in cross-border customer spending volumes.

Excluding items, Mastercard reported net income of $1.6 billion for the quarter ended Dec. 31, or $1.64 per share, compared with $2 billion a year earlier.

Analysts on average were expecting a profit of $1.51 per share, according to the IBES estimate from Refinitiv. It was not immediately clear whether those numbers were comparable.

Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli

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