Mastercard profit slumps on one-time charge related to new tax law

(Reuters) - Mastercard Inc, the world's second-biggest payments network, reported a 76 percent drop in quarterly profit on Thursday, hurt by a one-time charge of $981 million related to changes to U.S. tax laws.Net income fell to $227 million, or 21 cents per share, in the fourth quarter ended Dec. 31, from $933 million, or 86 cents per share, a year earlier.

( items, the company earned $1.14 per share.Analysts on average had expected a profit of $1.12 per share, according to Thomson Reuters I/B/E/S. It was not.....

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