May 4, 2010 Exhibit 99.2 MasterCard Incorporated First-Quarter 2010 Financial Results Conference Call |
1st Quarter Selected Financial Performance ($ in millions, except per share data) Note: Figures may not sum due to rounding 1Q 2010 Actual 1Q 2009 Actual YOY Growth % Net revenue $ 1,308 $ 1,156 13.1 Total operating expenses 608 595 2.2 Operating income Operating margin 700 53.5% 561 48.6% 24.6 4.9 ppts Net income $ 455 $ 367 23.8 Diluted EPS $ 3.46 $ 2.80 23.6 2 |
3 1st Quarter 2010 MasterCard Branded Volume (GDV & Purchase Volume) Note: Figures may not sum due to rounding APMEA = Asia Pacific / Middle East / Africa $US billions U.S. Dollar Local Currency $US billions U.S. Dollar Local Currency APMEA 139 35.5 20.9 92 33.8 18.6 Canada 24 22.1 1.9 21 25.3 4.5 Europe 185 20.9 11.9 139 22.0 13.1 Latin America 49 29.8 16.2 27 35.5 20.7 United States 235 (1.1) (1.1) 194 1.0 1.0 Worldwide 631 14.8 8.3 473 14.9 8.7 Purchase Volume Gross Dollar Volume YOY Growth % YOY Growth % |
4 $553 $321 $436 $183 ($337) $1,156 $587 $446 $509 $206 ($440) $1,308 -$625 -$425 -$225 -$25 $175 $375 $575 $775 $975 $1,175 $1,375 1Q 2009 1Q 2010 • Net Revenue increased 13.1%; 10.2% on a constant currency basis • Domestic Assessments increased 6.1% • Cross Border Volume Fees increased 39.0% • Transaction Processing Fees grew 16.7% • Other Revenues increased 12.6% • Rebates & Incentives increased 30.7% 1st Quarter Revenue ($ in millions) |
• Total operating expenses increased 2.2%; 0.5% on a constant currency basis • G&A increased 2.1% primarily due to: • Increased personnel costs, up 2.9% • Foreign currency contributed ~1.4 ppts to the increase • A&M decreased 0.7%. • Excluding foreign currency, A&M decreased 3.8% 5 $116 $31 $448 $595 $608 $35 $115 $458 $0 $100 $200 $300 $400 $500 $600 $700 $800 General & Administrative Advertising & Marketing Depreciation & Amortization Total Operating Expenses 1Q 2009 1Q 2010 1st Quarter Operating Expenses ($ in millions) |
6 1st Quarter 2010 Cash Flow Statement and Balance Sheet Highlights • Generated $95 million in cash flow from operations for the quarter ended 3/31/2010 • Cash, cash equivalents and other liquid investments of $3.3 billion at 3/31/2010 |
7 Thoughts for 2010 • Net Revenue • Total Operating Expenses – General & Administrative – Advertising & Marketing • Tax rate • Operating margin and net income growth |
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