They beat by a full 59 cents a share. It looks like that international growth just like Visa is a major driver as well.
Outside the U.S., card usage grew at an even faster clip. Gross dollar volume abroad grew 30% to $352 billion, led by strong growth in Latin America, the Middle East, South Asia and Africa. Americans buying abroad led cross-border volumes up 23.6%, and MasterCard saw total processed transactions increase to $453 billion, up 155% on a local currency basis. Overall, the quarter showed the company doing a fantastic job at home and abroad, with strong results all around.
They seem to be executing even better job at revenue growth then the bigger Visa. The stock reflected this as well as Mastercard went up 13% and Visa went up 7%. In any case it seems that the recession and the credit crisis are not crimping the business of either company at all.
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