UPDATE: MasterCard Posts Rise In Q1 Profit

MasterCard MA reported a rise in its first-quarter net income. MasterCard's quarterly profit surged to $766 million, or $6.23 per share, versus $682 million, or $5.36 per share, in the year-ago period. Its revenue climbed 8% to $1.9 billion from $1.76 billion. However, analysts were expecting earnings of $6.18 per share on revenue of $1.93 billion. MasterCard's processed transactions rose 12% to 8.7 billion. MasterCard shares dropped 1.96% to $542.11 in pre-market trading.