Mastercard's profit falls but revenue rises

(Reuters) - Mastercard Inc reported a 7% decline in its quarterly profit on Wednesday as costs such as rebates and incentives rose but revenue rose as the dollar volume of transactions processed rose.Net income fell to $1.7 billion(1.37 billion pounds), or $1.68 per share, in the first quarter from $1.9 billion, or $1.80 per share, a year earlier. Revenue rose to $4 billion from $3.9 billion.