Mastercard (MA) Sinks as Q2 Sales Fall Short
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Price: $551.54 +3.05%
EPS Growth %: +14.9%
Financial Fact:
Diluted Weighted Average Shares Outstanding: 1.1B
Today's EPS Names:
DBVT, FNGR, SFNC, More
EPS Growth %: +14.9%
Financial Fact:
Diluted Weighted Average Shares Outstanding: 1.1B
Today's EPS Names:
DBVT, FNGR, SFNC, More
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Shares of Mastercard Incorporated (NYSE: MA) are lower early Wednesday as slightly better-than-expected second quarter profits were not enough to offset a miss on the top line.
Revenues in the quarter rose 9 percent to $1.8 billion, which missed the consensus of $1.88 billion. Gross dollar volume up 15 percent and purchase volume up 13 percent. On a constant currency basis, net revenue increased 13 percent compared to the same period in 2011.
Net income income, excluding a special item, was $713 million, or $5.65 per share. That represents a rise of 17 percent for income and 19 percent for EPS. Wall Street was looking for EPS of $5.58.
"Though economic uncertainties continued to persist, we experienced solid volume and processed transaction growth in all regions as we are focused on driving our global business to expand the reach of electronic payments," said Ajay Banga, MasterCard president and CEO. "We are executing on strategic partnerships as demonstrated by our recent announcement with Deutsche Telekom and the completion of AliPay’s integration with the DataCash payment platform, which will expand AliPay’s reach to online retailers outside of China. We also continue to work with government entities around the world, like the South African Social Security Agency, to help them implement more efficient and secure ways to deliver social benefits and to increase transparency and financial inclusion."
Shares of MA are down 3.5 percent to $421.52 in pre-open trading Wednesday. Rival Visa (NYSE: V), which posted stronger results on July 25, is down 1.3 percent.
Revenues in the quarter rose 9 percent to $1.8 billion, which missed the consensus of $1.88 billion. Gross dollar volume up 15 percent and purchase volume up 13 percent. On a constant currency basis, net revenue increased 13 percent compared to the same period in 2011.
Net income income, excluding a special item, was $713 million, or $5.65 per share. That represents a rise of 17 percent for income and 19 percent for EPS. Wall Street was looking for EPS of $5.58.
"Though economic uncertainties continued to persist, we experienced solid volume and processed transaction growth in all regions as we are focused on driving our global business to expand the reach of electronic payments," said Ajay Banga, MasterCard president and CEO. "We are executing on strategic partnerships as demonstrated by our recent announcement with Deutsche Telekom and the completion of AliPay’s integration with the DataCash payment platform, which will expand AliPay’s reach to online retailers outside of China. We also continue to work with government entities around the world, like the South African Social Security Agency, to help them implement more efficient and secure ways to deliver social benefits and to increase transparency and financial inclusion."
Shares of MA are down 3.5 percent to $421.52 in pre-open trading Wednesday. Rival Visa (NYSE: V), which posted stronger results on July 25, is down 1.3 percent.
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