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MasterCard Q4 net income grows by 18% to $605m

Global payment processor MasterCard has reported net income of $605m for the fourth quarter of 2012, up by 18% from the same period last fiscal.

The earnings per diluted share were $4.86, with an increase of 21% compared to the same period earlier year.

MasterCard president and CEO Ajay Banga said during the current fourth quarter result the company witnessed double-digit growth in net revenue, cross-border volume and processed transactions.

Operating income increased 18% over the year-ago period, excluding the special item, and the company delivered an operating margin of 47.4%.

For the quarter period ended on 31 December 2012, its net revenue was $1.9bn, with an increase of 10% against the corresponding period a year ago.

Net revenue growth was driven by an increase in processed transactions of 20%, to 9.2bn; an increase in cross-border volumes of 17%; and a 14% increase in gross dollar volume, on a local currency basis, to $986bn.

For the full year of 2012, MasterCard net income increased by 15% to $2.8bn, while net revenue stood at $7.4bn, an increase of 10%, compared to the same period year ago period.

MasterCard is a global payments processing network provider that connects consumers, financial institutions, merchants, governments and businesses in over 210 countries and territories.