Global growth boosts MasterCard 4Q net income

MasterCard says its net income rebounded strongly in the fourth quarter as its overseas business continued to expand.

Net income rose to $605 million, or $4.86 per share, from $19 million, or 15 cents per share, a year earlier.

Net revenue rose 10 percent to $1.90 billion.

The Purchase, N.Y.-based company took a charge of nearly $500 million in the year-earlier quarter. The charge covered the cost of a settlement with retailers over the fees they pay on credit card transactions.

The company's latest results beat analysts' estimates, sending MasterCard stock sharply higher in premarket trading.