MasterCard Reports 3Q07 Financial Results
MasterCard Incorporated has announced financial results for third-quarter 2007, reporting net revenues of $1.08 billion, a 20.1% increase versus the same period in 2006 and net income of $314 million including after-tax gains of $70 million from the partial sale of the company's investment in Redecard S.A. in Brazil. A MasterCard presentation on the results is available online.
MasterCard's gross dollar volume (GDV) increased 12.8% on a local currency basis, to $577 billion, the number of transactions processed increased 13.3% to 4.8 billion and cross-border volumes increased 20.6%. Worldwide purchase volume rose 14.1%, on a local currency basis to $430 billion. As of September 30, 2007, the company's customers had issued 878 million MasterCard cards, an increase of 11.3% over the cards issued at September 30, 2006.
"Our solid performance illustrates the strength of our diverse, global business," said Robert W. Selander, MasterCard president and chief executive officer. "We continue to benefit from positive secular trends and outstanding growth in international and emerging markets such as South Asia/Middle East/Africa and Latin America.
"As a unified global company, one of our strongest assets is our ability to align with our customers anywhere worldwide. As our business continues to grow, we are committed to delivering best-in-class dedicated customer account teams, and to finding the right talent to help MasterCard, and our customers, win in the marketplace," said Selander.
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