Mastercard Q1 Profit Rises on Steady Consumer Spending

Mastercard reported a jump in first-quarter profit Thursday on the back of resilient spending in its card network, despite economic uncertainty sparked by a global trade war.

U.S. consumer spending held up in the reported quarter thanks to wage growth and a resilient labor market, even as tariff-driven turmoil casts a shadow on the economy.

Mastercard's net revenue rose 17% to $7.3 billion in the quarter from a year earlier.

Shares of the Purchase, New York-based firm rose marginally before the bell.

Profit rose to $3.3 billion, or $3.59 per share, in the three months ended March 31, from $3 billion, or $3.22 per share, a year earlier.