MasterCard (MA) Higher After Strong Q3 Results
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Shares of MasterCard Incorporated (NYSE: MA) are 10% higher in pre-open trading after reporting better-than-expected third quarter results after the close.
MasterCard reported Q3 EPS of $2.47, ex-items, versus the analyst estimate of $2.25. Revenue for the quarter was $1.3 billion, versus the consensus of $1.27 billion.
On its conference call, MasterCard said it sees 2009 net revenue growth lower than their long-term objective, but sees '09 operating expenses flat versus 2008.
A number of analysts applauded the third quarter results, but were cautious about 2009. Deutsche Bank issued a report "Calm before the storm?" and KBW issued a report, "3Q08 results - Solid, but Clouds Loom." KeyBanc believes MA's guidance of no expense growth in 2009 goes a long way toward alleviating investors fears.
MasterCard reported Q3 EPS of $2.47, ex-items, versus the analyst estimate of $2.25. Revenue for the quarter was $1.3 billion, versus the consensus of $1.27 billion.
On its conference call, MasterCard said it sees 2009 net revenue growth lower than their long-term objective, but sees '09 operating expenses flat versus 2008.
A number of analysts applauded the third quarter results, but were cautious about 2009. Deutsche Bank issued a report "Calm before the storm?" and KBW issued a report, "3Q08 results - Solid, but Clouds Loom." KeyBanc believes MA's guidance of no expense growth in 2009 goes a long way toward alleviating investors fears.
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