MasterCard 2009 Annual Report Download - page 143

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MASTERCARD INCORPORATED
SUMMARY OF QUARTERLY DATA (Unaudited)
(In thousands, except per share data)
2009 Quarter Ended
March 31 June 30 September 30 December 31 2009 Total
Revenue ............................. $1,156,102 $ 1,279,889 $1,364,275 $1,298,418 $5,098,684
Operating income ...................... 561,293 557,186 673,503 468,126 2,260,108
Net income attributable to MasterCard ..... 367,258 349,074 452,199 294,001 1,462,532
Net income per share (basic) ............. $ 2.81 $ 2.67 $ 3.46 $ 2.25 $ 11.19
Weighted average shares outstanding
(basic) ............................. 129,636 129,743 129,936 130,027 129,838
Net income per share (diluted) ............ $ 2.80 $ 2.67 $ 3.45 $ 2.24 $ 11.16
Weighted average shares outstanding
(diluted) ........................... 129,975 130,118 130,359 130,476 130,232
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) attributable to
MasterCard ......................... 446,878 (746,653) (193,582) 239,442 (253,915)
Net income (loss) per share (basic)2........ $ 3.37 $ (5.70) $ (1.48) $ 1.83 $ (1.94)
Weighted average shares outstanding
(basic) ............................. 131,426 130,073 129,536 129,572 130,148
Net income (loss) per share (diluted)2...... $ 3.37 $ (5.70) $ (1.48) $ 1.83 $ (1.94)
Weighted average shares outstanding
(diluted) ........................... 131,764 130,073 129,536 129,952 130,148
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 to the consolidated financial statements included in Part II, Item 8, these
amounts have been revised in accordance with the adoption of a new accounting standard related to
instruments granted in share-based payment transactions which became effective for the Company on
January 1, 2009.
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