MasterCard has reported a net income of $921m, or $0.81 per diluted share, for the second quarter of 2015, compared to $931m, or $0.80 per diluted share, for the same period of 2014.
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The second quarter net income includes a $44m after-tax charge related to a UK merchant litigation settlement.
Net revenue was $2.4bn for the second quarter, a marginal increase of 1% compared to the same period of 2014. Adjusted for currency, net revenue increased 7%.
The increase in revenue was driven by a 17% rise in cross-border volumes, a rise of 13% in gross dollar volume, on a local currency basis, to $1.1trn, as well as a 13% increase in processed transactions to 12 billion. Moreover, acquisitions accounted for two percentage points to total net revenue growth.
Worldwide purchase volume increased 12% to $841bn on a local currency, compared to the corresponding quarter of 2014. The company’s customers issued 2.2 billion MasterCard and Maestro-branded cards as of 30 June 2015.
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By GlobalDataOperating income dropped 5%, or increased 2% adjusted for currency, compared to the previous year, excluding the special item, and the company delivered an operating margin of 54.9%.
MasterCard president and CEO Ajay Banga said: "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.
"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."
