MasterCard has reported its financial results for the second quarter of 2009. It has reported a net income of $349 million, or $2.67 per diluted share. Net income grew 26.4%, excluding the special item from last year.
Net revenue for the second quarter of 2009 was $1.3 billion, a 2.7% increase versus the same period in 2008. On a constant currency basis, net revenue increased 7% compared to the same period in 2008. The higher net revenue in the second quarter this year was due to: pricing changes, which contributed approximately 8% points of the net revenue growth; a 7.9% increase in the number of transactions processed to 5.6 billion; and a 5.8% decrease in rebates and incentives.
MasterCard’s gross dollar volume was down by 0.6% on a local currency basis, versus the second quarter of 2008, to $595 billion. Worldwide purchase volume during the quarter was down by 0.7% on a local currency basis, versus the second quarter of 2008, to $450 billion. As of June 30, 2009, the company’s financial-institution customers had issued 959 million MasterCard cards, an increase of 1.2% over the cards issued at June 30, 2008.
