Summary
Mastercard Inc. filed an 8-K on July 31, 2013, to report its financial results for the second quarter ended June 30, 2013. The filing primarily references an accompanying press release (Exhibit 99.1) which details these results and provides supplemental information regarding the company's financial performance. Investors should note that the company is presenting certain financial measures on a pro forma basis, excluding the impact of a charge related to U.S. merchant litigations from prior periods.
Key Highlights
- 1Mastercard announced its second quarter 2013 financial results via an 8-K filing on July 31, 2013.
- 2The filing includes a press release (Exhibit 99.1) containing detailed financial results for the quarter ended June 30, 2013.
- 3The company is providing non-GAAP financial measures, including pro forma adjustments to exclude charges related to U.S. merchant litigations.
- 4These pro forma measures are intended to aid in understanding operating performance and facilitate period-over-period comparisons.
- 5Mastercard is also presenting growth rates adjusted for currency fluctuations to provide a clearer view of underlying performance.
- 6A conference call to discuss these results was scheduled for July 31, 2013, with a presentation attached as Exhibit 99.2.
Frequently Asked Questions
The main purpose of this 8-K filing is to formally report Mastercard's financial results for the second quarter ended June 30, 2013, and to provide investors with access to the related press release and presentation.
Mastercard is presenting non-GAAP measures to offer a clearer view of its ongoing operational performance. By excluding items like charges from U.S. merchant litigations and adjusting for currency impacts, management believes these measures help investors better understand the underlying business trends and compare results across different periods.
The company is providing pro forma adjustments to exclude charges related to U.S. merchant litigations from operating expenses, operating income, net income, and earnings per diluted share. Additionally, they are presenting growth rates adjusted for currency fluctuations. Reconciliations to GAAP measures are included in the press release.
The detailed financial results and analysis are primarily found in the press release attached as Exhibit 99.1 to this 8-K filing. The presentation used during the conference call, Exhibit 99.2, also offers further insights.