News
MasterCard reports strong 4Q
February 8, 2007
The Associated Press:MasterCard Inc. said its fourth-quarter profit topped Wall Street expectations as strong consumer spending boosted transactions. The results drove shares of MasterCard to an all-time high before tumbling in early trading. The Purchase, N.Y.-based company, which went public in May 2006, posted quarterly profit of $41 million, or 30 cents per share, compared with a loss of $53 million, or 39 cents per share, a year earlier. Excluding the impact of litigation settlements, MasterCard reported a profit of $41 million, or 31 cents per share, in the latest period. The company's $2.39 billion initial public offering was used to unwind holdings by thousands of U.S. banks that controlled the company, and it now counts hedge funds like Atticus Management LLC and mutual funds like Fidelity among its biggest investors.
Related Media
Subscribe
Get the latest news and resources from ATM Marketplace.
Recent Posts
SEC accuses former ATM businessman Daryl Heller of funneling $185M from investors
Fifth Third named as top veteran friendly employer
DC AG sues Bitcoin ATM operator Athena Bitcoin for allegedly exploiting scam victims
NCR Atleos earns #5 rank in fintech rankings
SEC to revamp cryptocurrency policies amid Trump's pro crypto push
