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MasterCard on Apple Pay, trade on STOCK.com


Oct 31 2014, 10.18am GMT


Working in 210 countries across the world, MasterCard beat its Q3 earnings forecast making it one of the best performing stocks on S&P 500, up 7.14 (9.40%) in a day.

Following Q3 earnings report, MasterCard beat expectations with sales climbing by 13 percent to $2.5bn and net income of $1.02bn or 87 cents a share, compared with $879m or 73 cents a share a year ago. More good news for MasterCard appeared this week with the China State Council allowing foreign companies to clear electronic payments.

MasterCard Incorporated Third-Quarter 2014 Financial Highlights:

  • Third-quarter net income of $1 billion, or $0.87 per diluted share, up 15%
  • Third-quarter net revenue increase of 13%, to $2.5 billion
  • Third-quarter gross dollar volume up 12% and purchase volume up 11%
  • Earnings per diluted share of $0.87, up 19%
  • Net revenue was $2.5 billion, a 13% increase versus the same period in 2013

Net revenue growth was driven by the impact of the following:

  • A 12% increase in gross dollar volume, on a local currency basis, to $1.2 trillion
  • An increase in cross-border volume of 15%
  • An increase in processed transactions of 10%, to 11 billion

Ajay Banga, president and CEO, MasterCard, noted specific investments; “Within the past two months alone, we opened our new technology hub in New York City, delivered our technology and security protocols as part of the launch of Apple Pay and partnered with the Transport for London to deliver contactless payments system-wide.”

Expenses compared to the same period in 2013 were variable:

  • Total operating expenses increased 12%, both as-reported and adjusted for currency, to $1.1 billion
  • Other expenses of $2 million in the third quarter of 2014 versus other income of $6 million in the third quarter of 2013.

Year-to-Date 2014 Results

For the nine months ended September 30, 2014, MasterCard reported figures versus the year-ago period:

  • Net income of $2.8 billion, up 13%, both as-reported and adjusted for currency
  • Earning per diluted share was $2.40, up 17%.
  • Acquisitions had a $0.02 dilutive impact on earnings per diluted share
  • Net revenue was $7.1 billion, an increase of 13%
  • Gross dollar volume growth of 13%, transaction processing growth of 12% and cross-border volume growth of 16% contributed to the net revenue growth in the year-to-date period
  • Total operating expenses increased 13%, or 12% after adjusting for currency, to $3 billion
  • Operating income increased 14% resulting in an operating margin of 57.9%

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[Image: Copyright All rights reserved by MasterCard News]

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