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US GDP, Mastercard Top Estimates; Germany in Deflation

Oct 30,2014  Company News, Market News  Comment: 0

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New York City, New York – (StockNewsDesk) – 10/30/2014 — The much-awaited Fed meeting has finished, and the outcome of it was as expected. The massive $85 billion bond-buying program started in 2012 has come to an end while the interest rates will remain unchanged. Gross Domestic Product (GDP) of the US boosted investor confidence. GDP grew at 3.5% compared with Street’s estimates of 3.0%. The figure is on an annualized basis.  Higher consumer spending coupled with higher exports, and lower imports helped the economy to grow.  US economic activity increased to 4.6% on an  annualized basis on the back of robust business and consumer spending. The number of Americans filing for unemployment, however, disappointed. Initial Claims data increased by 4,000 to 287,000 compared to  expectations of 283,000. Both gold futures and crude oil futures fell more than 1% during the Fed Reserve meet.

 

Mastercard Topped Estimates

The shares of the company during pre-market trading increased by 2%. During market hours, shares of the company increased 6%. The net income of the company increased to $1.02 billion or 87 cents compared to the earlier year’s figure of $879 million or 73 cents. The revenue of the company increased to $2.5 billion, up by 12.8%. The Street expected earnings of 78 cents a share and revenue of $2.45 billion. Purchases around the globe increased 11% to $843 billion, while in the US, purchases increased by 8.2% to $288 billion. Domestic business accounts for 30% of Mastercard’s revenues. International revenues also grew faster than expected at 12%. Even higher growth was seen from developing nations from Asia, Pacific, Middle East and African region.

US GDP, Mastercard Tops Estimates; Germany in Deflation

Although the European and Chinese economies are facing threats of slowdown, their vision of growth remains intact. Mastercard plans to increase their charge from banks in 2015. This will help the company boost its revenue and profits. Additionally, the company plans to ink deals with Apple pay and plans to adopt new technologies in the electronic payment space. The biggest competitor of Mastercard in this space is Visa. Recently, Visa also reported better than expected revenue and profits. Surpassing Visa in terms of revenue and profits is also one of the goals of Mastercard in the forthcoming years.

Germany Holds Inflation

Consumer price inflation in Germany remained below expectations at -0.3% compared to the Street’s estimates of -0.1% and earlier reading of 0.0%. This is a signal that the largest economy in Europe is still under the threat of deflation and faces a potential risk of an economic downturn.

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