MasterCard Inc. (NYSE:MA) reported profit rose to $608 million ($4.76 a share) from $458 million ($3.49 a share) year-over-year. Net revenue increased 22% to $1.7 billion. MasterCard beat Wall Street expectations for earnings of $4.22 a share. The news will affect trading in these additional financial services (NYSE:XLF) companies: Visa Inc. (NYSE:V), American Express Company (NYSE:AXP), Capital One Financial Corp. (NYSE:COF), Discover Financial Services (NYSE:DFS), Citigroup (NYSE:C), Bank of America (NYSE:BAC), and JP Morgan (NYSE:JPM).
Time Warner Inc. (NYSE:TWX) reported net income above Wall Street’s expectations for the most recent quarter. Net income for the entertainment company rose to $638 million (59 cents per share) vs. $562 million (49 cents per share) in the same quarter a year earlier. This marks a rise of 13.5% from the year earlier quarter. Revenue rose 10.2% to $7.03 billion from the year earlier quarter. TWX reported adjusted net income of 60 cents per share. By that measure, the company beat the mean estimate of 56 cents per share. It beat the average revenue estimate of $6.81 billion. Get all the details in Time Warner Inc. Earnings Cheat Sheet: Booking a Profit Again.
Walgreen Co. (NYSE:WAG) July sales rose 4.7% to $5.82 billion year-over-year. Sales in comparable stores rose 2.7%. Comparable store front-end sales rose 4.8% including a 1.4% rise in customer traffic and a 3.4% jump in basket size. Comparable pharmacy sales were up 1.5%