Mastercard reported a fourth-quarter profit that beat Wall Street estimates as a resilient economy encouraged consumers to ramp up spending during the holiday season, sending the payments processor’s shares up 3.

Mastercard Inc. reported earnings that exceeded estimates as the firm diversifies beyond its traditional payment network into areas such as anti-fraud services and global money movement.

Mastercard (MA) reported better-than-expected fourth-quarter results on Thursday amid robust consumer spending, while growth in the value of transactions processed on the payments giant's platform accelerated year over year.