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MasterCard reports increase in earnings

November 3, 2011

One of the largest credit card companies in the world recently announced that it had made significant gains in the third quarter of the year.

One of the largest credit card companies in the world recently announced that it had made significant gains in the third quarter of the year.

MasterCard announced that during the time period its net income had increased 38 percent to total $717 million, higher than the $518 million it climbed to one year before. Shares of the firm’s stock increased $5.63 a share, beating experts’ predictions of a $4.82 jump.

MasterCard CEO Ajay Banga said that the recent success had been due to its aggressive push to international markets.

“We are pleased with our strong results this quarter, which were driven by several factors, including double-digit increases in volumes and processed transactions in most regions across the globe,” Banga said in a statement.

MasterCard was one of the companies to take part in the “EMV for Merchant Acquirers: U.S. Migration Consideration” event hosted by the Smart Card Alliance in October.  

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