Join        Login             Stock Quote

Mastercard (MA) Q4 Profit Tops Consensus, Shares Up

 January 31, 2013 09:12 AM

(By Mani) Mastercard, Inc. (NYSE: MA) posted better-than-expected quarterly profit on strong growth in card payments,sending its shares up 4 percent in the pre-market hours.

For the fourth quarter ended Dec.31, Mastercard earned $605 million, or $4.86 a share, compared to $19 million, or 15 cents a share, last year when it took a $770 million litigation charge. Wall Street expected earnings of $4.81 a share, according to analysts polled by Thomson Reuters.

Quarterly net revenue rose 10 percent to $1.9 billion. Adjusted for currency, net revenue increased 12 percent. Street projected revenue of $1.89 billion.

New York-based payment processing firm recorded an increase in processed transactions of 20 percent to 9.2 billion, with cross-border volumes edging up 17 percent. Gross dollar volume, on a local currency basis, rose 14 percent to $986 billion.

Worldwide purchase volume during the quarter was up 13 percent on a local currency basis $727 billion. As of Dec.31, 2012, the company's customers had issued 1.9 billion MasterCard and Maestro-branded cards.

"We are gaining traction in our U.S. credit business with some recent wins, continuing to experience momentum in our mobile initiatives around the world, and securing important business in emerging markets like Africa and Brazil," Ajay Banga, MasterCard president and CEO, said in a statement.




Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.