EmailMasterCard (MA $320.38 +21.89) reported second quarter earnings of
$4.76 per share, $0.53 better than the Capital IQ Consensus Estimate of $4.23.
Revenues rose 22.1% year/year to $1.67 billion versus the $1.55 billion
consensus.
On a constant currency basis, net revenue increased 18.0%. Net rev growth was
primarily driven by the impact of the following: A 16.4% increase in gross
dollar volume on a local currency basis, to $811 billion; an increase in
cross-border volumes of 19.3%; and an increase in processed transactions of
17.4%.
Worldwide purchase volume during the quarter was up 16.3% year/year, on a local
currency basis, to $608 billion. Q2 total operating expenses increased 20.8%
year/year to $782 million. During the second quarter, MasterCard repurchased
approx. 1.5 million shares at a cost of approx. $387 million.
Quarter-to-date through July 28, the co repurchased an additional 77,700 shares
of class A common stock at a cost of approx. $24 million, with $935 million
remaining under the current repurchase program authorization.
than one year.
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