Q2 2024 Mastercard Inc Earnings Call Transcript
Key Points
- Mastercard Inc (MA) reported a 13% increase in net revenues and a 24% rise in adjusted net income year-over-year on a non-GAAP currency-neutral basis.
- Strong cross-border volume growth of 17% year-over-year, driven by healthy consumer spending.
- Value-added services and solutions net revenue grew 19% year-over-year on a currency-neutral basis.
- Mastercard Inc (MA) continues to expand its footprint in emerging markets, particularly in Africa, with significant investments and new partnerships.
- The company is leveraging AI to enhance its products and services, particularly in data analytics, fraud, and cybersecurity.
- The macroeconomic environment remains mixed, with inflation and interest rates still elevated, impacting consumer spending.
- Mastercard Inc (MA) expects to incur a one-time restructuring charge in the third quarter due to organizational realignment.
- Rebates and incentives came in lower than expected for Q2, primarily due to the timing of planned deal activity.
- The company faces ongoing competitive pressures in the payments market, requiring continuous investment in new solutions and services.
- The recent rejection of a merchant litigation settlement by the court introduces uncertainty and potential legal challenges.
Good morning. My name is Julianne, and I will be your conference operator today. At this time, I would like to welcome everyone to the Mastercard Incorporated Q2 2024 earnings conference call. (Operator Instructions) Thank you.
Mr. Devin Corr, Head of Investor Relations, you may begin your conference.
Thank you, Julianne. Good morning, everyone, and thank you for joining us for our second quarter 2024 earnings call. With me today are Michael Miebach, our Chief Executive Officer; and Sachin Mehra, our Chief Financial Officer.
Following comments from Michael and Sachin, the operator will announce your opportunity to get into the queue for the Q&A session. It is only then that the queue will open for questions. You can access our earnings release, supplemental performance data, and a slide deck that accompany this call in the investor relations section of our website, mastercard.com.
Additionally, the release was furnished with the SEC earlier this morning.
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