MasterCard Shares Slip After Profit Concerns
Shares of MasterCard Inc. fell almost 10 percent Friday after the company declined to forecast additional profit growth.
In a conference call on Friday, a company official said that operating margin growth could slow down this year's compared to the 19.5 percent operating margin in 2006.
Also, Chief executive Robert Selander said to analysts that the company doesn't foresee raising fees. The higher fees boosted the company's fourth quarter net income to $40.9 million, or 30 cents per share, compared to a loss of 39 cents, or $52.9 million last year.
Shares in MasterCard have nearly tripled since the company's IPO last May. However on Friday, their price dropped 9.71 percent, or $11.14 to close at $103.60 on the New York Stock Exchange.
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