The company’s CEO said:
We won significant business in Europe this quarter with Nordea, Credit Agricole and CSOB in the Czech Republic and, in the U.S., we acquired loyalty reward provider Truaxis to better connect consumers with targeted, relevant offers.
Additionally, emerging geographies and governments continue to provide great opportunities for growth. In Africa, our win with Nakumatt, the largest supermarket chain in East Africa, is expected to deliver more than a million multi-currency prepaid loyalty cards to consumers.
Purchase volume rose 12% on a local currency basis, compared with the third quarter of 2011, to $676 billion. The company had issued 1.9 billion cards as of the end of September.
Operating expenses rose 5%, compared with the same period a year ago, and 8% on a currency exchange basis. The company repurchased about 500,000 shares of its stock in the quarter at a cost of $216 million. It has about $1.1 billion left in its authorized buyback program.
Shares are down about 0.4% in premarket trading this morning, at $451.00. The company’s shares closed at $452.98 on Friday, in a 52-week range of $333.36 to $486.08. The consensus target price for the shares was around $497.60 before today’s report.
Paul Ausick
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