MasterCard grows two percent
(4 November 2009 – Global) MasterCard Incorporated has announced its third quarter results for 2009, reporting a net income of US$452 million (A$504 million).
Net revenue for the third quarter of 2009 was US$1.4 billion, a 2.0 percent increase on the same period last year.
The company has said that the higher net revenue for 2009 was attributed to pricing changes that contributed approximately six percentage points of the net revenue growth and a 7.6 percent increase in the number of transactions processed to 5.8 billion.
MasterCard also said that worldwide purchase volume during the quarter was very flat, only up 0.4 percent on a local currency basis, versus the third quarter of 2008, to US$480 billion.
The financial institution had 964 million MasterCard cards issued as at the 30 September, 2009.
Robert W. Selander, chief executive officer, MasterCard, said that the group is very pleased with the third quarter results, specifically given of stabilisation in parts of MasterCard’s business.
Total processed transactions continues to grow at a high single-digit rate, with double digit growth coming from its Asia Pacific/ Middle East/ Africa and Latin America regions, Mr Selander added.
Mr Selander highlighted that, at the same time, MasterCard’s cross boarder volumes are steadying with the Asia Pacific region demonstrating significant growth in the quarter, and the U.S. showing a lower rate of decline.
The company has said that the higher net revenue for 2009 was attributed to pricing changes that contributed approximately six percentage points of the net revenue growth and a 7.6 percent increase in the number of transactions processed to 5.8 billion.
MasterCard also said that worldwide purchase volume during the quarter was very flat, only up 0.4 percent on a local currency basis, versus the third quarter of 2008, to US$480 billion.
The financial institution had 964 million MasterCard cards issued as at the 30 September, 2009.
Robert W. Selander, chief executive officer, MasterCard, said that the group is very pleased with the third quarter results, specifically given of stabilisation in parts of MasterCard’s business.
Total processed transactions continues to grow at a high single-digit rate, with double digit growth coming from its Asia Pacific/ Middle East/ Africa and Latin America regions, Mr Selander added.
Mr Selander highlighted that, at the same time, MasterCard’s cross boarder volumes are steadying with the Asia Pacific region demonstrating significant growth in the quarter, and the U.S. showing a lower rate of decline.
Subscribe