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MasterCard says confident in revenue, outlook
| Reuters
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MasterCard says confident in revenue, outlook
Mon Apr 14, 2008 12:23pm EDT
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NEW YORK (Reuters) - MasterCard Inc (MA.N: Quote, Profile, Research) expects growth
to remain strong in the next few years, helped by revenue from
overseas markets, even as the U.S. credit crisis cuts into
spending by Americans, a senior executive told Reuters on
Monday.
Walt Macnee, president, global markets, said the business
trend in markets outside the United States, in particular less
developed payment markets such as China, remained very
positive, and the credit crisis should not have any direct and
major impact on the company's growth.
"We've got a lot of hedges, leaving us in a position that
we remain very confident about this fiscal year and the one
after," said Macnee, referring to its opportunities in emerging
markets, where people have fast increasing demands for card
payment services.
"We don't take hits from the credit, so there is a good
confidence level in our business," he told Reuters in an
interview at the company's headquarters in Purchase, New York.
In January, MasterCard said quarterly earnings rose to
$304.2 million, or $2.26 a share, from $40.9 million, or 30
cents a share, in the same quarter in the prior year.
Macnee declined to give a specific forecast for annual
earnings growth.
(Reporting by George Chen; editing by Jeffrey Benkoe)
© Thomson Reuters 2008 All rights reserved
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