(Reuters) -Mastercard on Thursday reported a rise in third-quarter profit, as consumer spent on travel and entertainment.
The company reported a profit of $3.2 billion, or $3.39 per share, for the three months ended Sept. 30, compared with $2.5 billion, or $2.58 per share, a year earlier.
Wage growth has helped customers persist with their spending habits on travel, shopping and entertainment despite still high inflation.
A growing belief that the U.S. Federal Reserve can engineer a soft landing – a scenario where growth slows and inflation is brought under control without a recession – is also helping sentiment.
Net revenue rose 14% to $6.5 billion.
(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)
