Mastercard Profits Up 41% in 4th Quarter
Mastercard reported their profits ’soared’ in the 4th Quarter of 2010 as consumers returned to using their plastic even more towards the end of the year.
For the last 3 months, OCT-DEC, the credit network giant earned $415 million, a jump of 11% in revenue. For the year, purchases also rose 11% as compared to 2009. The total number you ask? $560 billion dollars.
They also report a boost in debit card use, where Visa is their biggest competitor. The company also reports the number of total transactions rose to 6.2 billion, an increase of 6.2% over prior year. Why? The company reports a steady climb since the dropoff of use during the recession in 2010. Wall Street experts expect an overall profit of $3.03 per share.
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