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MasterCard registers 33% increase in Q2 net income

MasterCard has reported a net income of $608m, or $4.76 earnings per diluted share, for the second quarter of 2011, compared to $458m, or $3.49 earnings per diluted share, for the same period in 2010.

Net revenues for the second quarter of 2011 were $1.66bn, up 22.1% compared to $1.36bn for the same period in the previous year.

Operating income was $885m, compared to $717m for the second quarter of 2010.

Worldwide purchase volume during the second quarter of 2011 was up 16.3% on a local currency basis versus the second quarter of 2010, to $608bn. As of 30 June 2011, the company’s customers had issued 1.7 billion MasterCard and Maestro-branded cards.

MasterCard president and CEO Ajay Banga said during the quarter, work continued in the mobile commerce category highlighted by an agreement with Google and multiple partners to launch the Google Wallet, as well as their alliance with Isis, in the US.

"Additionally, the previously announced Orange and Barclaycard contactless mobile payment service became available to UK consumers in May 2011," Banga added.