<img src=" http://www.joplinglobeonline.com/images/zope/tuesday.gif" border=0> Lower costs, higher volume drive MasterCard profit

City wants to buy weather radios for those without

Phil Jones had been working on a construction project outside his house all day on May 22 and was unaware that a tornado watch had been issued. Once he was inside, though, his weather radio went off, and he learned that a warning had been issued.

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November 3, 2009

Anonymous The Joplin Globe Tue Nov 03, 2009, 07:49 AM CST

NEW YORK (AP) — MasterCard says its third-quarter profit swelled as it continued to reduce costs and the number of transactions it processed rose.

However, worldwide purchase volume grew only 0.4 percent, providing further evidence a global economic recovery is moving slowly.

The credit card and global payments processor earned $452.2 million, or $3.45 per share, during the July-September quarter. It lost $193.6 million, or $1.48 per share, a year ago.

MasterCard’s revenue totaled $1.36 billion, a 2 percent increase from the same quarter last year. Analysts expected earnings of $2.94 per share for the quarter on revenue of $1.35 billion.

Its shares slipped $1.63 to $221.02 in premarket trdaing.

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