Mastercard quarterly profit rises as transaction volumes hold strong

(Reuters) -Mastercard reported a jump in third-quarter profit on Thursday, as sustained consumer spending boosted payment volumes on its networks.

Consumer spending has proven resilient, while labor market cracks and sticky inflation continue to fuel concerns over U.S. President Donald Trump’s trade and immigration policies.

Mastercard’s net revenue rose 17% to $8.6 billion in the quarter from a year earlier.

Shares of the Purchase, New York-based firm rose marginally before the bell.

Profit rose to $3.9 billion, or $4.34 per share, in the three months ended September 30 from $3.3 billion, or $3.53 per share, a year earlier.

(Reporting by Ateev Bhandari in Bengaluru; Editing by Anil D’Silva)