UPDATE: MasterCard Reports Upbeat Q1 Earnings

MasterCard Inc MA released its results for the first quarter today. The company reported its quarterly net income at $562 million, or $4.29 per share, up from $455 million, or $3.46 per share, in the year-ago quarter. The company's net revenue surged 15% to $1.5 billion. However, analysts were expecting earnings of $4.08 per share on revenue of $1.45 billion. The company's worldwide purchase volume rose 13% to $545 billion. MA shares gained 0.62% to $277.00 in pre-market trading. Read more from Benzinga's Company news.