Originally published at www.seclive.com
Filing in Focus: MasterCard 10-Q, May 1, 2014
MasterCard Incorporated (NYSE:MA) announced its financial results for the first fiscal quarter of 2014, posting a rise in revenue and earnings. Net revenues improved 14% to $2.2B, with double-digit increases in gross dollar volume and processed transactions. Earnings increased from $766M and $0.62 in the year-ago quarter to $870M and $0.73 per share. President and CEO Ajay Banga remarked that the company's performance was strong to start, and that several business developments will help fuel continued strong results, including agreements with Sam's, Wal-Mart, and Target to co-brand with MasterCard. With these developments being realized, MasterCard is taking steps to develop its online and mobile functions to further its growth and momentum.
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