Shares of MasterCard Inc. fell almost 10 percent Friday after the company declined to forecast additional profit growth.
In a conference call on Friday, a company official said that operating margin growth could slow down this yearâ€™s compared to the 19.5 percent operating margin in 2006.
Also, Chief executive Robert Selander said to analysts that the company doesnâ€™t foresee raising fees. The higher fees boosted the companyâ€™s fourth quarter net income to $40.9 million, or 30 cents per share, compared to a loss of 39 cents, or $52.9 million last year.
Shares in MasterCard have nearly tripled since the companyâ€™s IPO last May. However on Friday, their price dropped 9.71 percent, or $11.14 to close at $103.60 on the New York Stock Exchange.