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Company News

Mastercard profit falls as pandemic hits spending volumes

Oct 28 (Reuters) - Mastercard Inc reported a 28% slump in quarterly profit on Wednesday as fewer people used its cards to shop, travel and pay bills during the COVID-19 pandemic.

Net income fell to $1.5 billion, or $1.51 per share, in the third quarter ended Sept. 30 from $2.1 billion, or $2.07 per share, a year earlier. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M.)

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