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Mastercard earnings top estimates, but stock slips amid October spending slowdown

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Switched transaction growth was 15% in the third quarter but only 12% in the first three months of October

Mastercard Inc. scored a big profit beat for its third quarter as spending remained healthy, but shares of the payments giant were falling 2% in Thursday’s premarket action as the company disclosed that trends had slowed in October.

Mastercard’s gross dollar volume rose 11% on a local-currency basis in the quarter, reaching $2.3 trillion.

 

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