MasterCard says second-half revenue growth to slow
Sept 20 (Reuters) - MasterCard Inc said revenue growth in the second half of the year would be lower than its second-quarter levels, which had disappointed investors.
The credit and debit card network's revenue grew 9 percent in the last quarter, but missed analysts' estimates as worldwide purchase volume growth slowed to its lowest level in five quarters.
Analysts expect the company to report revenue of $1.94 billion in the third-quarter, up 7 percent from a year ago, according to Thomson Reuters I/B/E/S.
MasterCard also said at an investor conference on Thursday that it is targeting annual operating margins of a minimum of 50 percent for 2013-2015 and an earnings per share compounded annual growth rate of at least 20 percent in that period.
Shares of the company closed at $451.89 on the New York Stock Exchange on Wednesday.