MasterCard (MC) third quarter profits declined 3.7% year-on-year (YOY), or discounting special items up 1%, or up 9% on a currency adjusted basis (FX) to $977 million.
Cross-border volume rose 16% and gross dollar volume (GDV) rose 13%, on a local currency basis, to $1.2 trillion; and processed transactions increased 12% to 12.3 billion and end-of-period (EOP) global cards-in-force (CIF) nearly topped 1.5 billion.
Cross-border volume rose 16% YOY. Global purchase volume rose 12.8% (FX) to $1141 billion and end-of-period (EOP) global cards-in-force (CIF) nearly hit 1.5 billion.
U.S. Gross Dollar Volume (GDV) for Q3/15 (credit + debit) increased 7.6% YOY to $365 billion, while U.S. Purchase Dollar Volume (PDV) rose 7.8% YOY to $311 billion.
The number of U.S. Purchase Transactions (PTX) for credit + debit jumped 7.3% to 5.91 billion for the third quarter.
At the end of Q3/15 MasterCard had 332 million U.S. accounts representing 367 million credit and debit cards.
For U.S. credit cards, PDV increased 8.1% to $168 billion and the number of CIF rose 6.2% YOY to 188 million.
For U.S. debit cards, PDV rose 9.2% YOY to $134 billion and the number of CIF increased 10.2% to 183 million.
MasterCard noted net revenue for the third quarter was $2.5 billion, a 2% increase versus the same period in 2014. Adjusted for currency, net revenue increased 8%. During the quarter there was an increase in rebates and incentives, primarily due to new and renewed agreements and increased volumes. Acquisitions contributed 1 percentage point to total net revenue growth. Worldwide purchase volume during the quarter was up 12% on a local currency basis versus the third quarter of 2014, to $852 billion. As of September 30, 2015, the company’s customers had issued 2.2 billion MasterCard and Maestro-branded cards.
MASTERCARD PROFITS HISTORICAL
Q3/14: $1015 million
Q4/14: $801 million
Q1/15: $1020 million
Q2/15: $965 million
Q3/15: $977 million
Source: CardData; MasterCard
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