Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
(Adds revenue, purchase transaction, shares, analyst estimates, background)
April 30 (Reuters) - Mastercard Inc beat Wall Street's estimates for quarterly profit on Tuesday, as a strong U.S. job market and a boom in online shopping boosted transaction volumes on the company's payment network.
The company, which makes most of its money from card swiping fees and processing transactions, said its "gross dollar volume" - the dollar value of transactions processed - rose 5.4 percent to $1.48 trillion in the first quarter.
That drove net revenue 8 percent higher to $3.9 billion, beating analysts' average estimate of $3.86 billion.
The Purchase-New York based company said it processed 23.82 billion transactions in the quarter, up 18 percent.
U.S. retail sales rose to their highest in 1-1/2 years in March, according to data published earlier this month, with almost all sectors including autos, electronics, appliances, and food and beverage registering growth.
The company's net income rose to $1.9 billion, or $1.80 per share, in the first quarter ended March 31 from $1.5 billion, or $1.41 per share, a year earlier. http://bit.ly/2vv9PfA
On an adjusted basis, it earned $1.78 per share, beating analysts' average estimate of $1.66, according to IBES data Refinitiv.
Rival Visa Inc last week reported a 14 percent jump in net profit, but its shares fell following the earnings as investors fretted over an increase in expenses, and sluggish cross-border volume growth.
Mastercard's share rose 1.17 percent in early trading on Tuesday. (Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D'Silva Editing by Saumyadeb Chakrabarty)