PURCHASE, N.Y. MasterCard on Thursday said fourth quarter earnings surged by 18% to $605 million, as worldwide transactions on its cards rose by 20%.
Fourth quarter revenue was up 10% to 1.9 billion.
The company said its fourth quarter featured: an increase in processed transactions of 20%, to 9.2 billion; an increase in cross-border volumes of 17%; and a 14% increase in gross dollar volume, on a local currency basis, to $986 billion.
“We are pleased with our fourth quarter results, which saw double-digit growth in net revenue, cross-border volume and processed transactions,” said Ajay Banga, MasterCard president and CEO. “We are gaining traction in our U.S. credit business with some recent wins, continuing to experience momentum in our mobile initiatives around the world, and securing important business in emerging markets such as Africa and Brazil.”
For the full year MasterCard reported a 10% increase in revenue to $7.4 billion, and a 15% rise in earnings to $2.8 billion.
