MasterCard Profits Drop, Stock Slips

Friday was a good day and a bad day for MasterCard. The bad news is that profit in the first quarter of 2009 was down almost 20% when compared to profit in 2008. More bad news is that MasterCard’s stock dropped $10.55, which was almost 6% of its value.
The good news is that the drop in profit wasn’t as drastic as many industry experts feared. Profit in the first quarter of 2008 was $447 million. This year, that number fell to $367 million. While that is a big drop, it beat most predictions.
Like many companies, MasterCard is looking for ways …read more