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MasterCard Inc. Q3 2009 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 11:36 PM ET November 09 2009

MasterCard Incorporated third quarter revenues rose 1.5% to $1.36 billion and net income was $452.2 million or $3.45 a share.

 
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Question-and-Answer Session

Operator

Ladies and gentlemen, if you would like to ask a question please press star one on your touchtone telephone. If your question has been asked or you wish to withdraw your question please press star two. Again, please press star one to ask a question.

And your first question comes from the line of Julio Quinteros with Goldman Sachs. Please proceed.

Julio Quinteros - Goldman Sachs

Great. I guess, just let me start off real quickly with the severance charges, some new severance charges into the fourth quarter any thoughts, Martina, around severance into 2010?

Martina Hund-Mejean

Julio, we, obviously as you know, we've been now taking severance charges every quarter and we're really trying to make sure that we get all of the actions that we need to take into this year and that's why we are finishing off in the fourth quarter. With this kind of environment, you never know what could happen in the future, but we are really trying to take the opportunity at this point in time to do the right decisions from an efficiency point of view, as well as from a relocation of investments point of view. So, it should be substantially done.

Julio Quinteros - Goldman Sachs

Okay, great. Thank you.

Operator

Your next question comes from the line of Don Fandetti with Citigroup. Please proceed.

Donald Fandetti - Citigroup

Hi. Good morning. Just a quick question and I was wondering if you could comment on your expectation for sort of price increases, I know Visa is expecting to be a little bit higher than normal in '10, just want to get your thoughts there?

Martina Hund-Mejean

Don, we've been stating this pretty steady for the entire year as well as from our long-term performance objective point of view that we do believe that every year, we'll be targeting price increases in the neighborhood of 200 basis points. I don't think at this point in time we're prepared to say anything differently.

Donald Fandetti - Citigroup

Okay. Thank you.

Operator

Your next question comes from the line of Craig Maurer with CLSA. Please proceed.
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