MasterCard has reported a net income of $977m, or $0.86 per diluted share, for the third quarter of 2015, compared to $1.01bn, or $0.87 per diluted share, for the same quarter last year.
The third quarter net income includes a $50m after-tax charge related to the termination of the US employee pension plan.
The company’s net income, excluding the special item, stood at $1bn or $0.91 per diluted share.
Net revenue for the quarter ended 30 September 2015 was $2.53bn, a 1.6% rise from $2.49bn in the third quarter of 2014. Adjusted for currency, net revenue was up by 8%.
The growth in net revenue was driven by a 16% rise in cross-border volumes, a 13% increase in gross dollar volume on a local currency basis to $1.2trn, as well as a 12% rise in processed transactions to 12.3 billion. In addition, acquisitions contributed 1 percentage point to total net revenue growth.
Worldwide purchase volume increased 12% on a local currency basis to $852bn compared to the prior year. The company’s customers had issued 2.2 billion MasterCard and Maestro-branded cards as of 30 September 2015.
Operating income was up by 2%, or 10% adjusted for currency, compared to a year earlier, excluding the special item, with the company delivering an operating margin of 57.2%.
MasterCard president and CEO Ajay Banga said: "We are pleased with the results we delivered this quarter, in spite of the ongoing uncertainty in the global economy. We continue to see double-digit growth in both volume and transactions in most of our regions around the world.
"As the world becomes more digitally driven, our innovations and investments in things such as MasterPass, EMV and biometrics are helping to redefine the way people shop and pay with convenience and security."