Lower costs, higher volume drive MasterCard profit
Quick ReadMasterCard earns $452 million in 3rd quarter as transaction volume rises, costs decline
NEW YORK (AP) — MasterCard Inc. said Tuesday its third-quarter profit was bolstered by continued cost-cutting measures and an increase in the number of transactions it processed.
However, worldwide purchase volume grew only 0.4 percent on a local currency basis during the quarter, providing further evidence that a global economic recovery is likely to be slow. Volume fell in the U.S.
"The...
