The Richest Woman in the World: How Gina Rinehart Earns her Billions
Why Dell Will Never Be Great Again"In this recession, consumers are spending less per purchase on their credit cards -- but that hasn't slowed down the credit card company MasterCard (NYSE: MA)," says Paul Tracy.
In his The StreetAuthority Market Advisor, he points out, "In the second quarter, MasterCard's net income grew by +26%, beating Wall Street's expectations by a significant margin." Here's his review.
"MasterCard makes its money from the fees it charges merchants and the banks that issue its cards. The issuing banks make money by charging consumers interest.
"And as we've seen, the banks can lose money when consumers default on their credit card debt. But MasterCard's fee-based business model has been relatively resilient during the downturn.
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