MasterCard Inc. recently announced its 2015 second-quarter financial results, with mainly positive trends compared with the same period a year ago.
The Purchase-based company reported second-quarter net income of $965 million, up 4 percent, excluding a special item, or 85 cents per diluted share. Including a special item, the company”™s second-quarter net income was $921 million, or 81 cents per diluted share.
MasterCard”™s second-quarter net revenue was $2.4 billion, a 1 percent increase from the second quarter of 2014. In a statement, MasterCard attributed the rise to a 17 percent increase in cross-border volumes and a 13 percent increase in gross dollar volume to $1.1 trillion.
“Our business continues to perform well with good transaction and volume growth, particularly in cross-border, despite the mixed global economic environment and foreign exchange headwinds,” said Ajay Banga, president and CEO, in a statement. “We are executing on our strategy to grow our business by focusing on winning new deals in our core payments business, while building out our data analytics, processing and safety applications. A blend of acquisitions and organic investments in these spaces remain at the foundation of our strategy.”
The company, which has issued 2.2 billion MasterCard and Maestro-branded cards to customers as of June, saw $841 billion in worldwide purchase volume, a 12 percent increase from the second quarter of 2014. Its effective tax rate was 25.8 percent, compared with a 32.2 percent rate in the same period last year.
Operating income decreased 5 percent compared with a year ago, excluding the special item. The company delivered an operating margin of 54.9 percent.
MasterCard, based on Purchase Street in Purchase, operates its payments processing network in more than 210 countries.
