Mastercard (MA, Financial) ended their fiscal year with fourth quarter sales up 20% to $3.31B benefiting from strong holiday spending. The continued focus on international growth opportunities has paid off as there are now three times as many cards outstanding worldwide than in US markets. Vocalink, a payment system headquartered in the UK, and Oltio, a mobile payments and banking technology company out of South Africa, along with other acquisitions contributed 3% to overall sales growth in the quarter.
From Jeff Auxier (Trades, Portfolio)'s first-quarter 2018 shareholder letter.
