MasterCard has reported a net income of $983m, or $0.89 per diluted share, for the second quarter of 2016, a 6.7% increase compared to $921m, or $0.81 per diluted share, for the same period previous year.
The company reported second quarter net revenue of $2.7bn, an increase of 13% compared to $2.4bn for the corresponding period last year.
MasterCard said that its net revenue increased 14% on a currency-neutral basis. The increase in revenue was driven by a 10% rise in cross-border volumes, a rise of 11% in gross dollar volume, on a local currency basis, to $1.2 trillion, as well as a 14% increase in processed transactions to 13.7 billion.
Worldwide purchase volume during the quarter grew by 9% to $897bn on a local currency basis, compared to the second quarter of 2015.
The company’s customers had issued 2.3 billion MasterCard and Maestro-branded cards as of 30 June 2016.
Operating income for the second quarter period rose by 10% or 11% on a currency-neutral basis, versus the year-ago period. Excluding special items, operating income increased 13%, or 15% on a currency-neutral basis, compared to the same period last year.
MasterCard president and CEO Ajay Banga said: “We carried solid momentum into the second quarter, delivering 14 percent revenue growth for the first half of the year, after adjusting for currency.
“With last week’s VocaLink announcement, we will expand our capabilities beyond core card-based solutions into a broader set of transactions and payments. The collective technology and experience will provide consumers, businesses and governments more choice and value in how they pay and are paid.”