Profits for the top four networks were all over the map year-on-year (YOY) in the first quarter (1Q/17).
The network peer group net income declined 29.9% YOY for 1Q/17, driven by huge declines posted by Visa and American Express, according to CardData.
Since 1Q/16 Visa folded in the Visa Europe portfolio and began reporting operational Visa Europe data in the third quarter. American Express dumped its Costco and JetBlue card portfolios in the second quarter of 2016.
Visa, Mastercard, American Express and Discover reported a combined 1Q/17 profit of $2762 million, compared to $4051 million for 4Q/16 and $3935 for 1Q/16.
Visa’s global net income sunk 74.8% YOY to $430 million for 1Q/17, compared to $2070 million for the prior quarter, and $1707 million one-year ago. Visa notes special items related to the legal entity reorganization of Visa Europe in affected 1Q/17 net income.
Mastercard’s global net income rose 12.7% YOY to $1081 million for the first quarter, compared to $933 million for 4Q/16, and $959 million for 1Q/16.
American Express net income for U.S. Consumer Services (USCS) and International Consumer and Network Services (ICNS) combined, decreased 22.1% YOY to $687 million, from $435 million for the prior quarter, and $882 million for the year ago quarter.
Discover global net income decline 1.9% YOY to $564 million for the first quarter, compared to $563 million in 4Q/16, and $575 million for 1Q/16.
MAJOR 4 U.S. CARD NETWORK INCOME
1Q/15: $4012 million
2Q/15: $4067 million
3Q/15: $3797 million
4Q/15: $4012 million
1Q/16: $3935 million
2Q/16: $3306 million
3Q/16: $4310 million
4Q/16: $4051 million
1Q/17: $2762 million