Mastercard (MA) Investors Count Their Cash
Tweet
Share
E-mailGet Alerts MA Hot Sheet
Join SI Premium – FREE
Mastercard (NYSE: MA) is surging today following another strong quarter as the credit card company benefited from positive secular trends and surging growth in international and emerging markets.
Mastercard reported third quarter earnings of $1.80 per share, ex-items, well above the Wall Street consensus of $1.42. Revenues for the quarter were $1.08 billion, ahead of the consensus of $1.03 billion.
Mastercard said Worldwide purchase volume rose 14.1% during the quarter to $430 billion. Cardholders increased 11.3% to 878 million MasterCard cards.
Mastercard's Board of Directors also amended the share repurchase plan to authorize the Company to repurchase an incremental $750 million, for an aggregate of the entire repurchase program of $1.25 billion of Class A common stock in open market transactions on or prior to June 30, 2008.
Shares of Mastercard have surged nearly 18% today to $185.
Today's move in the stock has investors smiling. Marsico Capital has seen its 13.8% stake in Mastercard rise in value by over $300 million, just today. Fidelity has seen its 11.3% investment increase in value by about $250 million today.
Other large holders of Mastercard include Atticus Capital (9%), Goldman Sachs (7.6%) and DE Shaw (3.8%).
Mastercard reported third quarter earnings of $1.80 per share, ex-items, well above the Wall Street consensus of $1.42. Revenues for the quarter were $1.08 billion, ahead of the consensus of $1.03 billion.
Mastercard said Worldwide purchase volume rose 14.1% during the quarter to $430 billion. Cardholders increased 11.3% to 878 million MasterCard cards.
Mastercard's Board of Directors also amended the share repurchase plan to authorize the Company to repurchase an incremental $750 million, for an aggregate of the entire repurchase program of $1.25 billion of Class A common stock in open market transactions on or prior to June 30, 2008.
Shares of Mastercard have surged nearly 18% today to $185.
Today's move in the stock has investors smiling. Marsico Capital has seen its 13.8% stake in Mastercard rise in value by over $300 million, just today. Fidelity has seen its 11.3% investment increase in value by about $250 million today.
Other large holders of Mastercard include Atticus Capital (9%), Goldman Sachs (7.6%) and DE Shaw (3.8%).
You May Also Be Interested In
- Mastercard to Participate in Upcoming Investor Conference
- Marvell earnings preview: Is a beat-and-raise quarter possible?
- Buy this stock as Investor Day targets leave room for upside: Analyst
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
