PURCHASE, N.Y. - (05/03/06) MasterCard Inc., which ispreparing to go public in an initial public offering, said Tuesdaythat net income for its first quarter rose 37% to $127 million, or$1.27 a share. First quarter revenue was up 12% to $739 million,due primarily to higher gross dollar volume on MasterCard-brandedcards, and the number of transactions processed during the firstquarter. The company plans to raise as much as $2.5 billion with anIPO later this quarter that will leave 49% of the cards company inpublic hands, with the rest remaining with its currentbank-owners.
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