Payments processor MasterCard Inc. says its profit and revenue rose in the first quarter. Profit beat the forecasts of Wall Street analysts, though revenue missed slightly.
Profit was $766 million, up 12 percent from a year ago, MasterCard reported Wednesday. That worked out to $6.23 per share, beating the $6.18 per share expected by analysts polled by FactSet.
Revenue rose 8 percent to $1.9 billion, slightly less than the $1.93 billion expected by analysts.
MasterCard's results were helped by an increase in cross-border volumes, which measures how much customers spend in countries other than the one they live in. That can be a gauge for how affluent customers are faring. CEO Ajay Banga said he was pleased that results met the company's expectations, "despite the mixed global economic environment."