MasterCard Q1 profit up 24%

MasterCard Inc, the world's second-largest credit card network, said first-quarter profit increased 24%, in the latest confirmation that consumers are spending once again.

The company earned $455 million, or $3.46 a share, compared with $367 million, or $2.80 per share, a year earlier.  

MasterCard attributed its improved results to increased consumer spending, higher cross-border volumes, and a pricing increase.