MasterCard’s Profits & Transactions Increase
Consumers are using their MasterCard more, both globally and in the United States.
MasterCard reported third-quarter results today which showed earnings and sales were above year-ago levels.
Purchases throughout the world grew 12 percent in the third quarter to $676 billion. Purchase volume grew 7.4 percent in the United States.
Net revenue for the quarter was up 5 percent versus a year ago to $1.9 billion. Net income for the company rose to $772 million, a 7.7 percent increase over year-ago levels of $717 million.
The company processed 8.7 billion transactions in the third quarter, an increase of 24 percent over last year.
MasterCard, the world’s second-largest payment network based on processed transactions, has 1.9 billion cards issued throughout the world.