PURCHASE, N.Y. – MasterCard, one of two common stocks held by credit unions, reported a $452.2 million third quarter profit yesterday, up from a $193.6 million loss in last year’s third quarter when it made a large payment on an antitrust settlement.
MasterCard's third-quarter revenue edged up 2% to $1.36 billion from $1.34 billion a year ago, but worldwide purchase volume grew only 0.4%.
Last years’ third quarter reflected an $827.5 million pretax charge related to an antitrust litigation settlement.
For the first three quarters of the year, MasterCard reported almost flat revenue growth, at $3.8 billion, compared to $3.77 million for the same period last year, and net income of $1.2 billion, compared to a three-quarter loss of $493.4 million last year.
MasterCard and Visa are the only two common stocks widely held by credit unions, which received shares in the companies when each went public over the past three years.
