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MasterCard surprised with high profit increase

The U.S. company MasterCard said profit growth for the third quarter, easily exceeded analysts' expectations. New York-based company reported a net profit of 716 million USD or 5.63 USD per share for 519 million USD during the same period of 2010, or 3.94 USD per share - an increase of 38% yoy. The total amount of funds in the transactions grew by 18.1 percent, while their number increased by 20.1%.
The company increased its efforts to take a share of the domestic market from its main competitor Visa, while it expands its international business. Over the past 12 months MasterCard signed a contract with a credit institution as SunTrust Banks, which until recently was a customer of Visa. The company announced some successes and abroad, the number of transactions in Brazil and the Netherlands contribute, and expansion in Italy yet. In this year of MasterCard shares rose 50%. The company announced that they redeem their shares worth 77 million USD in the third quarter and 3 million since the beginning of the fourth quarter, as the current buyback program remain available to 879 million USD.