MasterCard, Inc. (MA) Tops Q1 EPS by 1c

May 1, 2014 7:30 AM EDT

Mastercard, Inc. (NYSE: MA) reported Q1 EPS of $0.73, $0.01 better than the analyst estimate of $0.72. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.14 billion.

Net revenue growth was driven by the impact of the following:

  • A 14% increase in gross dollar volume, on a local currency basis, to $1.0 trillion;
  • An increase in processed transactions of 14%, to 9.8 billion; and
  • An increase in cross-border volumes of 17%.

These factors were partially offset by an increase in rebates and incentives, primarily due to new and renewed agreements and increased volumes.

Worldwide purchase volume during the quarter was up 13% on a local currency basis versus the first quarter of 2013, to $759 billion. As of March 31, 2014, the company’s customers had issued just over 2 billion MasterCard and Maestro-branded cards.

Commenting on the company’s performance, Ajay Banga, president and CEO of MasterCard, said, “We kicked off the year with a strong quarter, despite a mixed global economy. We secured several new agreements, including three of the largest retailers. Wal-Mart and Sam's Club will flip their co-brand portfolios to MasterCard. Target will also shift its co-brand to MasterCard and use our chip and PIN technology across all of its card products as part of a commitment to provide its customers with the most secure payment product. At the same time, we continue to invest in technology and acquisitions that will speed our development of mobile and online solutions.”

For earnings history and earnings-related data on Mastercard, Inc. (MA) click here.



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