MasterCard Incorporated Reports Second-Quarter 2016 Financial Results
Second-quarter net income of $983 million, including a special item, or $0.89 per diluted share Second-quarter net income of $1.1 billion, excluding a special item, or $0.96 per diluted share Second-quarter net revenue increase of 13%, to $2.7 billion Second-quarter gross dollar volume up 11% and purchase volume up 9% MasterCard Incorporated (NYSE:MA) today announced financial results for the second quarter of 2016. The company reported net income of $983 million , an increase of 7% or 8% on a currency-neutral basis, and earnings per diluted share of $0.89 , up 10% or 11% on a currency-neutral basis versus the year-ago period. Excluding special items related to separate U.K. merchant litigations taken in both this quarter and the previous year’s quarter, the company reported net income of $1.1 billion , an increase of 10% or 11% on a currency-neutral basis, and earnings per diluted share of $0.96 , up 13% or 14% on a currency-neutral basis versus the year-ago period. Net revenue for...
July 28, 2016
MasterCard Announces Acquisition of VocaLink
Enhancing Choice, Driving Innovation Across All Payment Types and Payment Flows MasterCard Incorporated (NYSE:MA) today announced that it has entered into a definitive agreement to acquire 92.4 percent of VocaLink Holdings Limited for about £700 million (approximately US$920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately US$220 million), if performance targets are met. This transaction is subject to regulatory approval and other customary closing conditions. Under the agreement, a majority of VocaLink’s shareholders will retain 7.6 percent ownership for at least three years. Based in London, VocaLink operates key payments technology platforms on behalf of UK payment schemes, including: BACS – the Automated Clearing House (ACH) enabling direct credit and direct debit payments between bank accounts Faster Payments – the real-time...
July 21, 2016
MasterCard Statement on Decision of the UK Competition Appeal Tribunal
MasterCard today commented on the UK Competition Appeal Tribunal ruling in the Sainsbury’s Supermarkets case. “On first look, we are grateful that the court found that significant benefits flow to both retailers and cardholders from interchange in the UK. What’s interesting is that the court concluded that a lawful level of credit interchange for the UK market would be over 65% higher than the 30bps rate cap imposed in the 2015 Interchange Fee Regulation (“IFR”). At the same time, the court criticized and rejected the ‘merchant indifference test,’ the cornerstone for the IFR. While we are disappointed to see liability as part of the finding, we note that in awarding a limited portion of the claimed damages, the court concluded that Sainsbury’s did not pass through interchange costs to consumers in the form of higher prices.” The court ruling provided for £68.6 million (approximately US$90 million ) in favor of the retailer. As a result, the company expects to take a pre-tax charge of...
July 14, 2016
MasterCard Announces Annual Meeting Results
Stockholders Elect 12 Directors MasterCard Incorporated (NYSE:MA) announced the results of its annual meeting of stockholders, held today at the company's global headquarters. At the meeting: The full slate of 12 directors was elected for a one-year term, to expire at the next annual meeting of stockholders. Included in this slate is Oki Matsumoto, who was nominated for the first time earlier this year The compensation for the company’s executive officers was approved on an advisory basis The appointment of PricewaterhouseCoopers, LLP as the company's independent registered public accounting firm for 2016 was ratified During the meeting, Ajay Banga, president and CEO of MasterCard, addressed stockholders, noting, “The world of payments is changing. We’re building a competitive advantage through innovation and packaged solutions as we touch more transactions and expand our processing and other value-added capabilities.” The Board of Directors also declared a cash dividend of $0.19 per...
June 28, 2016
MasterCard Incorporated to Host Conference Call on Second-Quarter 2016 Financial Results
On Thursday, July 28, 2016 , MasterCard Incorporated (NYSE:MA) will release its second-quarter financial results. The company will host a conference call to discuss these results at 9:00 a.m. Eastern Time . The dial-in information for this call is 877-201-0168 (within the U.S.) and 647-788-4901 (outside the U.S.), and the passcode is 40840885. A replay of the call will be available for 30 days and can be accessed by dialing 855-859-2056 (within the U.S.) and 404-537-3406 (outside the U.S.), and using passcode 40840885. This call can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com/investor . About MasterCard Incorporated MasterCard (NYSE: MA), www.mastercard.com , is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard products and...
June 27, 2016
MasterCard to Participate in Upcoming Investor Conference
MasterCard (NYSE:MA) today announced its participation in the following investor conference in the month of June: On Wednesday, June 15, Martina Hund-Mejean, chief financial officer, will present at the William Blair Growth Stock Conference in Chicago. The discussion will begin at 10:20 a.m. Eastern Time (9:20 a.m. Central Time) and last for approximately 30 minutes. There will be a listen-only, live webcast of the discussion and a replay will be archived for 30 days on the investor relations section of www.mastercard.com/investor . About MasterCard Incorporated MasterCard (NYSE: MA), www.mastercard.com , is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances –...
May 26, 2016