updated 11/1/2006 9:48:26 AM ET 2006-11-01T14:48:26

MasterCard Inc., owner of the nation’s second-largest credit card brand, said Wednesday its third-quarter profit climbed 82 percent, reflecting increased revenue and a higher number of purchases worldwide.

The company said it earned $193 million, or $1.42 per share, for the three months ended Sept. 30 versus $106.1 million, or the equivalent of 79 cents a share, a year earlier when MasterCard was a private entity owned by the nation’s largest banks.

Revenue rose 13.9 percent to $902 million from $791.6 million a year ago.

The latest results beat the consensus estimate of $1.07 in earnings per share on $871.2 million in revenue, according to a Thomson Financial poll.

Since MasterCard completed an initial public offering in May, rival Visa USA announced that it too will go public.

Copyright 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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