Financial results for the II quarter of 2010.
Mastercard Inc. announced the financial results of the company for the II quarter of 2010. The company reported a net income of 458 million. Doll. USA, or 3, 49 dollars. for one diluted action. The company’s income for the II quarter of 2010. amounted to 1, 4 billion. Doll., increasing by 6, 7% compared to the same period in 2009. The company’s net income compared to the same period last year increased by 7.9%. The growth of net income was provided by increasing international volumes (15, 2%), an increase in the dollar volume of MasterCard, which increased by 8, 5%(in terms of local currency), price changes (4%).
All over the world, the volume of shopping on MasterCard cards in the II quarter of 2010. increased by 7, 9% compared with the II quarter of 2009. and amounted to 493 billion. Doll. USA in terms of local currencies.
The number of processed transactions compared to the II quarter of 2009. increased by 0, 1% to 5, 6 billion. As of June 30, 2010. financial institutions issued 1, 6 billion. MasterCard plastic cards (including cards issued under the Maestro brand), practically without changing for the reporting period.
Ajay Banga, President and CEO of MasterCard: “We are satisfied with the results of our activities in the II quarter.
Good financial indicators were provided with thorough GDV growth, especially in markets outside the United States.
We also expand our presence in the world. For example, in Latin America, we signed an agreement with Telefonica, which will make it possible to accept electronic payments for mobile subscribers of this company. In addition, we started working with the Bank of China. This is the 19th country where our money transfers program of ‘Person-to-Person’ “.
In the II quarter of 2010. Operational costs decreased by 10, 4% to 648 million. Doll. Compared to the II quarter of 2009. General expenses decreased by 9, 7% (excluding fluctuations in foreign exchange rates), of which 14, 5% falls on total and administrative expenses and 13, 8% – for fixed costs and expenses for personnel. Advertising and marketing costs were also reduced – by 0, 3%.
In the II quarter of 2010. Operating profit amounted to 52, 6%, increasing by 9, 1% compared to the period a year earlier.
The effective tax rate MasterCard was 35, 7% in the II quarter of 2010. against the rate 35, 0% in the comparable period in 2009.
Results of the first half of 2010.
During the first six months of 2010., ending on June 30, MasterCard announced a pure income of 913 million. Doll. USA, or 6, 95 dollars. for one diluted action.
The company’s income during these six months amounted to 2, 7 billion. Doll., increasing by 9, 7% against the same period in 2009. The company’s net income increased by 9, 0%.
General operational costs compared to the first half of 2009. decreased by 47% – to 1, 3 billion. Doll. The total number of other expenses was 9 million. Doll. For a six -month period against 32 million. Doll. For the same period in 2009. The reduction was primarily due to a decrease in the cost of resolving the litter.