Earnings Surge At MasterCard

Register now

PURCHASE, N.Y. - (08/10/04) -- MasterCard International said netincome more than doubled for its fiscal second quarter, with thebrunt of last year's $1 billion settlement in the merchant'santitrust case out of the way. The card association reported netincome of $65.7 million, or 66 cents a share, for its secondquarter, more than double the net for the same period last year.And net income foe the first six months of the year was $139.3million, or $1.39 a share, compared to a loss of $393 million, or$3.98 a share, for the first half last year, when MasterCard took a$721 million charge ($469 million after-tax) in relation to themerchants settlement. Second quarter revenues rose 16% to $647.3million, while first-half revenues also climbed 16% to $1.24billion.

For reprint and licensing requests for this article, click here.