Summary
Mastercard Inc. filed an 8-K on July 30, 2009, to report its financial results for the second quarter ended June 30, 2009. The filing includes a press release (Exhibit 99.1) detailing these results and a presentation for an investor conference call (Exhibit 99.2). A key aspect of the disclosure is the use of non-GAAP financial measures, which the company employs to provide a clearer view of its ongoing operational performance by excluding significant one-time items. Investors should note that Mastercard is presenting figures that exclude a litigation settlement charge and a gain from the termination of a customer business agreement in specific periods. The company's management believes these adjustments allow for a more meaningful comparison of results across periods and a better understanding of core business operations. Reconciliations to GAAP figures are provided within the accompanying press release.
Key Highlights
- 1Mastercard announced its second quarter 2009 financial results via an 8-K filing on July 30, 2009.
- 2The filing includes a press release and a presentation for a conference call to discuss Q2 2009 results.
- 3The company utilized non-GAAP financial measures in its reporting for the period.
- 4Key exclusions from GAAP figures include a litigation settlement charge and a gain from a customer business agreement termination.
- 5Management stated that these non-GAAP measures are used to evaluate ongoing operations and for internal planning.
- 6Reconciliations between non-GAAP and GAAP financial measures are provided in the press release.
- 7The filing aims to provide investors with a clearer understanding of Mastercard's operational performance by excluding unusual or non-recurring items.