MasterCard Misses Estimates, Even With Higher Volume

MasterCard (MA) racked up higher transaction volumes in the fourth quarter due to increased consumer spending, but it still disappointed Wall Street by missing expectations. The world's second-largest payments network reported that net income grew 23% to $294 million, or $2.24 a share, while revenue increased 6% to $1.3 billion. Analysts polled by Thomson Reuters had expected earnings of $2.46 a share. The results included an after-tax severance charge of 19 cents a share.