The card franchise’s profit growth was primarily fueled by an increase in cardholder spending abroad. Revenue climbed 18% to $997 million and 2% of revenue growth was due to the weakening dollar. The second quarter marked the 13th quarter in a row of double-digit growth in gross dollar volume for Mastercard. GDV added 16% to $555 billion, while U.S. volume rose 9.8% to $255 billion. Total operating expenses increased 3.2% to $725 million on personnel and legal costs.
Source: Company filings
Q1:March Q2:June Q3:September Q4:December
Chris McWilton: I’m hopeful it will. We are hopeful that a lot of the smaller shareholders located in remote parts of the world that are licensed member and do hold shares and we’ll use this as a cleanup provision.
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