Mastercard Inc beat estimates for quarterly profit as consumer spending surged against a turbulent economy, but the card company's disclosure of a probe by the U.S. Justice Department unnerved investors.
A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White//File PhotoShares pare gains after co reveals DoJ probebeat estimates for quarterly profit as consumer spending surged against a turbulent economy, but the card company's disclosure of a probe by the U.S. Justice Department unnerved investors.
Mastercard bet on resilient consumer spending through the year, as rising interest rates and stubborn inflation have had little impact on wealthier consumers who continue to spend on travel and entertainment.
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