Assam Information Portal


Get updates

MasterCard Q3 profit increases with declined expenses

By Assam News on November 3, 2009 at 2:29 pm

MasterCard Inc’s third quarter (Q3) net income rose to 452 million dollars, as net revenue increased by 2 per cent over the same period last year, reaching 1.4 billion dollars, the company said in a statement Tuesday. Pricing changes contributed to the net revenue growth. Additionally, a 7.6-per-cent increase in the number of transactions processed - to 5.8 billion - also boosted the revenue increase, the world’s second largest credit card firm said.

“Total processed transactions continued to grow at a high single- digit rate, with double-digit growth coming from our Asia Pacific, Middle East, Africa and Latin America regions,” said Robert W Selander, MasterCard’s chief executive officer.

The company’s operating expenses declined 13.3 per cent, to 685 million dollars, due to currency fluctuations, a 7.9-per-cent decrease in general and administrative expenses and a 29.4-per-cent decline in advertising and marketing expenses.

“Our overall cross-border volumes are steadying with our Asia Pacific region demonstrating significant growth in the quarter, and the US showing a lower rate of decline,” added Selander.



Share |

Category: Business | Tags: , , ,

SUBSCRIBE TO OUR LATEST NEWS HEADLINES VIA EMAIL

ENTER YOUR E-MAIL ADDRESS:

Leave a Reply

SPECIAL FEATURES

Health and Fitness

HEALTH TIPS
Health and Fitness News and Tips.

Science

SCIENCE NEWS
Latest Science News just for You.

Photo Gallery

PHOTO GALLERY
Photo Galleries of Models and Celebrities.

Latest Articles

Watch Assamese Videos Online

ASSAMESE VIDEOS Assam Videos: New Assamese VCDs, Bihu Videos, Zubeen Garg Videos, Old Assamese Songs etc.

Some More Articles

Popular Topics