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Mastercard (MA) 1Q Earnings Rise 21 Pct Amid Jump In Processed Transactions, Volumes

 May 02, 2012 08:14 AM
 


(By Balachander) Payment processor Mastercard Inc. (NYSE:MA) reported stronger-than-forecast quarterly earnings as jump in processed transactions and volumes drove 17 percent growth in revenue.

Earnings attributable to MasterCard increased to $682 million or $5.36 per share for the first quarter from $562 million or $4.29 per share in the year-ago quarter, topping market expectations of earnings of $5.30 a share.

Net revenue rose to $1.76 billion from $1.50 billion, versus consensus estimate of a 15 percent rise to $1.73 billion.

Processed transactions shot up 29 percent to 7.7 billion.

Gross dollar volume grew 18 percent and purchase volume gained 17 percent.

[Related -Visa (V) Call Options Look For Rebound]

Total operating expenses increased 14 percent to $758 million.

As of March 31, Mastercard's customers had issued 1.8 billion MasterCard and Maestro-branded cards.

"For MA, competitive wins and Durbin share shifts should offset Euro area drags and drive EPS upside," UBS analyst John Williams had wrote in a note.

MA shares, which have been trading in the 52-week range between $258.34 and $466.98, closed Tuesday's regular trading at $455.90. Shares of MasterCard have gained 64 percent in the last one year and 23 percent year-to-date.

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