NEW YORK (MarketWatch) -- Goldman Sachs said Wednesday it remains cautious on shares of MasterCard (MA : mastercard inc com News , chart, profile, more Last: 85.92+11.82+15.95%
11:53am 11/01/2006
MA85.92, +11.82, +16.0%) despite better-than-expected earnings from the credit card firm. While Goldman analysts said the results would likley boost the stock, said it's difficult to chart the company's profit in coming quarters. "Undeniably, the quarter's bottom line result was very strong, but the source of the most significant source of upside -- ad and marketing spending -- continues to highlight the quarterly earnings volatility," Goldman said. "We have very little visibility into the company's ad and marketing budget into any one quarter."
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