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MasterCard Inc. reports 3Q income of $2.31 a share, including 51-cent gain


Published : Wed, 31 Oct 2007 13:33
By : Agencies
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NEW YORK (Thomson Financial) - MasterCard Inc. Wednesday reported third-quarter income of $314 million, or $2.31 a share, including a gain of $70 million, or 51 cents a share, from the partial sale of the company's investment in Redecard S.A. in Brazil.

Revenue rose 20.1% to $1.08 billion from $902 million a year earlier.

The mean estimate of analysts polled by Thomson Financial was for profit of $1.42 a share on revenue of $1.03 billion.

The company also said it plans to fund an incremental $750 million common share repurchase program for a total of $1.25 billion in open market transactions on or before June 30, 2008.

Shares of MasterCard closed at $157.15 on Tuesday.

Christie Rizk

cr/pc

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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