Mastercard profit drops as pandemic hits consumer spending
Reuters
Published Jul 30, 2020 13:10
(Reuters) - Mastercard Inc (N:MA) on Thursday reported a 30% slump in quarterly profit as fewer people used its cards during the COVID-19 pandemic, hitting spending volumes for the payment processor.
Net income fell to $1.4 billion (1.08 billion pounds), or $1.41 per share, in the second quarter ended June 30, from $2 billion, or $2 per share, a year earlier.
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Written By: Reuters
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