Business

First quarter revenue
by Claudia Sonea

Countrywide Financial is not the only one that posted its first quarter revenue, MasterCard (processes card payments) has done it too. The difference is that one registered a 72 percent loss, while the latter one doubled the profit and that because of the use of cards outside US. From the beginning of the year and up to March, MasterCard registered a profit of $446.9 million. There was an increase in cardholder spending both abroad and in US, but at different paces. Americans had a rough period with the economical recession and despite their situation that reflected in a decrease in credit card advances, they purchased using debit or credit cards. The spicing of food and gasoline prices is obvious in their choice of purchase, according to CEO and President Robert Selander. He added that next in their agenda is to convince the U.S. utilities, rental companies and health care providers in accepting their cards. MasterCard Inc. benefited a soar in the use of card outside US, especially in Latin America, South Asia, the Middle East and Africa. That gave them a boost to which contributed the dollar’s weakness by comparison to foreign currencies. Even the use of the MasterCard by US residents traveling abroad saw an increase. However, it is marked also by bad news like the Civil Investigative Demand requested by the Department of Justice or the lawsuit involving its competitor Visa. Up to this point Visa, American Express Co. and Discover Financial Services LLC posted their first quarter profit too. Would you like to know how they managed? Don’t go away, more to come…

related story: http://news.yahoo.com/s/ap/20080429/ap_on_bi_ge/earns_mastercard;_ylt=AoaYXaijGMBnJYqanIdOlB2s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Zerzanova

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 1:35 AM