MasterCard Q3 Results Top Estimates - Quick Facts

(RTTNews) - MasterCard Inc. (MA) reported that its third-quarter net income increased to $879 million or $7.27 per share, from $772 million or $6.17 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $6.95 per share for the quarter. Analysts' estimates typically exclude special items. Net revenues for the quarter rose to $2.218 billion from $1.918 billion in the prior year quarter. Twenty nine analysts had consensus revenue estimate of $2.13 billion for the quarter.

Adjusted for currency, net revenue increased 15%. Net revenue growth was driven by the impact of a 15% increase in gross dollar volume, on a local currency basis, to over $1 trillion; an increase in processed transactions of 16%, to 10 billion; and an increase in cross-border volumes of 19%. These factors were partially offset by an increase in rebates and incentives.

Worldwide purchase volume during the quarter grew 14% on a local currency basis versus the third quarter of 2012, to $763 billion. As of September 30, 2013, the company's customers had issued almost 2 billion MasterCard and Maestro-branded cards.