UPDATE: MasterCard Posts Downbeat Q4 Profit

MasterCard

reported a 3% rise in its fourth-quarter profit. MasterCard's quarterly profit surged to $623 million, or $0.52 per share, from a year-ago profit $605 million, or $0.49 per share. Its revenue gained 12% to $2.13 billion. However, analysts were expecting a profit of $0.60 per share on revenue of $2.14 billion. MasterCard shares fell 7.45% to $73.82 in pre-market trading.