MasterCard Reports Second Quarter Financial Results
MasterCard has announced its financial results for the second quarter.
MasterCard's revenue grew 19% to $772 million and its net income grew 82% to $120 million or $1.20 per share on a basic and diluted basis from the same period in 2004.
"Our robust financial performance demonstrates MasterCard International's true strength as a global payments company," said Robert W. Selander, president and chief executive officer."Given the ongoing consolidation and globalization of the banking industry, we are achieving success by reinforcing our customer-focused strategy and delivering innovative products and unsurpassed processing, franchise and information services. We continue to deliver on our commitment to partner with our financial institution customers to help them build, manage and enhance the profitability of their payments businesses."
Commenting on the company's financial performance, Chris McWilton, MasterCard's chief financial officer noted that "the second quarter of 2005 represents the sixth consecutive quarter of double-digit revenue growth for MasterCard. This growth reflects the strength of our globally competitive business model."
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