Stock Alert: Mastercard Tumbles 7% As Q3 Results Miss Estimates

(RTTNews) - Shares of Mastercard Inc. (MA) are losing almost 7 percent or $21.51 in Wednesday's morning trade at $295.60 after the company's third-quarter results missed analysts' expectations.

Wednesday, Mastercard reported third-quarter net income of $1.5 billion or $1.51 per share, down from $2.1 billion or $2.07 per share in the prior-year quarter. Adjusted earnings were $1.60 per share, compared to $2.15 per share a year ago. Net revenues declined 14 percent to $3.8 billion from $4.5 billion in the year-ago period. Analysts polled by Thomson Reuters had a consensus estimate for earnings of $1.66 per share for the quarter on revenues of $3.95 billion.

Mastercard has traded in a range of $199.99 to $367.25 in the past 52 weeks.