MasterCard Posts 3Q Profit,Sees Signs Of Stabilization |
Wall Street Journal - Nov 3, 2009 |
MasterCard Inc. (MA) recorded a third-quarter profit as the company processed more transactions, continued to cut expenses and benefited from a slowdown in the pace of decline in consumer spending.
The results, combined with those of bigger rival Visa Inc. (V) last month, could suggest a bottoming out of the economic downturn as consumers, who had scaled back in the recession, begin to stabilize their spending.
"I think the worst is behind us," said MasterCard Chief Executive Robert W. Selander, during a conference call Tuesday morning to discuss the company's third-quarter results. But the economic rebound would likely be less robust than what the company hopes for, he said.
Read Full Article from Wall Street Journal
- Posted: 2009-11-03 10:31:13
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