MasterCard Reports Higher Third QuarterEarnings
PURCHASE, N.Y. - (11/16/04) -- MasterCard International said thirdquarter net income surged 31% to $97.5 million, or 98 cents ashare, based on a 12% rise in revenues to $667.8 million. Butuncertainty lies ahead for the fourth quarter when the credit cardassociation is scheduled to make another $100 million paymenttowards last year's $1 billion settlement in the Wal-Mart antitrustcase. For the first three quarters, MasterCard reported a 15% risein revenues to $1.9 billion, compared to the first nine months lastyear. Net income for the first three quarters was $2.36 billion, or$2.37 a share, compared to a loss of $318.7 million, or $3.19 ashare, due to a pre-tax charged of $721 million related to thesettlement.