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Mastercard's quarterly profit rises 21 pct

Oct 31 (Reuters) - Mastercard Inc, the world's second-biggest payments network, reported a 21 percent rise in quarterly profit on Tuesday as consumers spent more globally and it fought for market share over other payment channels.

Net income rose to $1.43 billion or $1.34 per share in the third quarter ended Sept 30, from $1.18 billion or $1.08 per share. http://mstr.cd/2gYxlhy

Analysts on average were looking for $1.23 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

Net revenue rose 18 percent to $3.40 billion.

Mastercard's bigger rival Visa Inc posted a rise in quarterly profit that beat estimates, fuelled by higher spending.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr)