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MasterCard says second-half revenue growth to slow
September 20, 2012 / 1:00 PM / 5 years ago

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.

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