PURCHASE, N.Y. – MasterCard International said yesterday net income for its fourth quarter declined by 21%, to $239.4 million, absent a one-time gain the prior year for its sale of stock in Brazil’s credit card company, Redecard SA.
Processing Content
For the full year, MasterCard reported a 23% surge in revenues, to $4.99 billion, but a loss of $253.9 million caused by a $1.65 billion charge related to the antitrust litigation settlement between MasterCard and American Express; and an $827.5 million net charge related to the Discover litigation settlement.
Higher fees and higher transaction volume helped offset a slowdown in consumer spending and allowed the cards giant to report a 14% rise in fourth quarter revenues to $1.2 billion.
