Thursday, May 03, 2007 3:06:31 AM
* MA 108-117-127 reports Q1 earnings of $1.57 per share, $0.41 better than the Reuters Estimates consensus of $1.16; revenues rose 23.9% year/year to $915.1 mln vs the $843.8 mln consensus.
MasterCard Conf Call Summary (125.50 +10.55) -Update : Saying currency fluctuation accounted for 2.5 percentage points of revs increase Y/Y. Saying marketing spending was down because they wanted to keep "their powder dry for later in the year". Saying they don't view the withdrawal of the Belgium Banking Federation collective bargaining position as a setback but rather as a chance to negotiate with each one of those Banks individually. Saying success is not driven by one thing but the whole business seems to be firing on all cylinders right now. Saying their strong presence in Europe gives them a competitive advantage. Saying they look at price increases on a situation by situation basis and don't have any planned right now. Saying that Q1 gross margin shouldnt be extrapolated for the rest of the year implying it will probably be lower. Co doesnt plan on improving margins by reducing costs but rather by increasing transactions and the scalability of the business. They don't see broad-based economic distress coming.
MasterCard Conf Call Summary (125.50 +10.55) -Update : Saying currency fluctuation accounted for 2.5 percentage points of revs increase Y/Y. Saying marketing spending was down because they wanted to keep "their powder dry for later in the year". Saying they don't view the withdrawal of the Belgium Banking Federation collective bargaining position as a setback but rather as a chance to negotiate with each one of those Banks individually. Saying success is not driven by one thing but the whole business seems to be firing on all cylinders right now. Saying their strong presence in Europe gives them a competitive advantage. Saying they look at price increases on a situation by situation basis and don't have any planned right now. Saying that Q1 gross margin shouldnt be extrapolated for the rest of the year implying it will probably be lower. Co doesnt plan on improving margins by reducing costs but rather by increasing transactions and the scalability of the business. They don't see broad-based economic distress coming.
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