MasterCard 2008 Annual Report Download - page 145

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MASTERCARD INCORPORATED
SUMMARY OF QUARTERLY DATA (Unaudited)
(In thousands, except per share data)
2008 Quarter Ended
March 31 June 30 September 30 December 3112008 Total
Revenue ............................. $1,182,084 $ 1,246,504 $1,338,178 $1,224,834 $4,991,600
Operating income (loss) ................. 515,607 (1,233,204) (279,264) 462,356 (534,505)
Net income (loss) ...................... 446,878 (746,653) (193,582) 239,442 (253,915)
Net income (loss) per share (basic)2........ $ 3.40 $ (5.74) $ (1.49) $ 1.85 $ (1.95)
Weighted average shares outstanding
(basic) ............................. 131,426 130,073 129,536 129,572 130,148
Net income (loss) per share (diluted)2...... $ 3.38 $ (5.74) $ (1.49) $ 1.84 $ (1.95)
Weighted average shares outstanding
(diluted) ........................... 132,220 130,073 129,536 130,404 130,148
2007 Quarter Ended
March 31 June 30 September 30 December 3112007 Total
Revenue ............................. $ 915,103 $ 996,959 $1,082,850 $1,072,687 $4,067,599
Operating income ...................... 313,938 268,816 353,303 172,055 1,108,112
Net income ........................... 214,906 252,286 314,461 304,233 1,085,886
Net income per share (basic) ............. $ 1.58 $ 1.86 $ 2.32 $ 2.28 $ 8.052
Weighted average shares outstanding
(basic) ............................. 135,847 135,865 135,357 133,548 134,887
Net income per share (diluted) ............ $ 1.57 $ 1.85 $ 2.31 $ 2.26 $ 8.002
Weighted average shares outstanding
(diluted) ........................... 136,594 136,687 136,228 134,448 135,695
1Portions of our business can be seasonal. Our gross revenue has historically reflected progressively
increased card purchasing volume throughout the year, particularly in the fourth quarter during the holiday
shopping period. Similarly, customer and merchant incentives, which are recorded as contra-revenue, and
advertising and marketing expenses have historically increased in the fourth quarter, generally causing our
profitability to decline. Fourth quarter results in 2008 reflect an opposite trend as a result of the global
economic slowdown; purchasing volumes have decreased, rebates and incentives are correspondingly
smaller and advertising and marketing expenses have been curtailed.
2As more fully described in Note 1 (Summary of Significant Accounting Policies) to the consolidated
financial statements included in Item 8 of this Report, these amounts will be revised in accordance with the
adoption of Financial Accounting Standards Board Staff Position Emerging Issues Task Force 03-6-1 on
January 1, 2009.
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