MasterCard's (MA) Q1 Profit Jumps 24%, Worldwide Pruchase Volume Up 12.9%
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Price: $454.28 -1.28%
EPS Growth %: +15.4%
Financial Fact:
Income tax expense: 449M
Today's EPS Names:
ESCA, LICT, NKSH, More
EPS Growth %: +15.4%
Financial Fact:
Income tax expense: 449M
Today's EPS Names:
ESCA, LICT, NKSH, More
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Investors are cheering quarterly results from MasterCard (NYSE: MA) Tuesday morning, bidding up the stock by more than 2 percent in pre-market action. Shares last traded at $281.29.
The credit-card processor based out of Purchase, New York reported first-quarter net income of $562 million, up almost 24 percent from $455 million reported during the same quarter last year. On a per-share basis, MasterCard's profit rose 24 percent from $3.46 last year to $4.29.
Total revenue was $1.5 billion for the quarter, up about 15 percent from the $1.308 billion issued in the first-quarter 2010.
A consensus of analysts on the Street had been looking for MasterCard to report EPS of $4.10 on sales of $1.46 billion.
Gross dollar volume and purchase volume rose 12.8 and 12.9 percent, respectively, during the quarter. Cross-border volumes surged 18.5 percent while pricing changes accounted for about 5 percentage points. The number of processed transactions increased 11.1% compared to the same period in 2010, to 6.0 billion.
Ajay Banga, MasterCard's President and CEO, said, "We had a strong start to 2011 despite the hardships experienced by many consumers and businesses due to natural disasters and political turmoil in several markets. Our solid volume and processed transaction growth helped to drive a double-digit revenue increase. This growth is reflective of the strong fundamentals and globality of our business."
The credit-card processor based out of Purchase, New York reported first-quarter net income of $562 million, up almost 24 percent from $455 million reported during the same quarter last year. On a per-share basis, MasterCard's profit rose 24 percent from $3.46 last year to $4.29.
Total revenue was $1.5 billion for the quarter, up about 15 percent from the $1.308 billion issued in the first-quarter 2010.
A consensus of analysts on the Street had been looking for MasterCard to report EPS of $4.10 on sales of $1.46 billion.
Gross dollar volume and purchase volume rose 12.8 and 12.9 percent, respectively, during the quarter. Cross-border volumes surged 18.5 percent while pricing changes accounted for about 5 percentage points. The number of processed transactions increased 11.1% compared to the same period in 2010, to 6.0 billion.
Ajay Banga, MasterCard's President and CEO, said, "We had a strong start to 2011 despite the hardships experienced by many consumers and businesses due to natural disasters and political turmoil in several markets. Our solid volume and processed transaction growth helped to drive a double-digit revenue increase. This growth is reflective of the strong fundamentals and globality of our business."
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