MasterCard Reports Q4 Net Profit of $933 Million

New York, MasterCard Incorporated announced today its financial results for the fourth quarter and full year of 2016 that increased 5%.

The company reported net income of $933 million. The results excluded a special item in this quarter related to merchant litigation in the U.K. the company reported net income of $940 million for the same period of 2015.

“We’re pleased to have delivered strong results for the quarter and full year, driven by solid execution of our strategy and leveraging our differentiated service offerings,” said Ajay Banga, MasterCard president and CEO. “Our continued investments in digital, safety and security, data analytics, loyalty and processing position us well for future growth in our core business and new payment flows.” Net revenue for the fourth quarter of 2016 was $2.8 billion, an increase of 9%, or 10% on a currency-neutral basis, versus the same period in 2015. Net revenue growth was driven by the impact of the were due to an increase in switched transactions3 of 17%, to 15.2 billion. Another reason was a 9% increase in gross dollar volume, on a local currency basis and adjusting for the impact of recent EU regulatory changes, to $1.2 trillion and An increase in cross-border volumes of 13%.

For the full year, the company reported net profit that increased to 7% and reached $4.1 billion.

Source: Qatar News Agency