And the reality is it's going to be nonlinear. And the reason you should expect that is just general propensity to spend on debit, but also all the work that we are doing as a company on the migration from Maestro to Debit Mastercard. I just wanted to get your views on a range of things, Durbin, EPI. It's one that will be needed certainly as we come out of the crisis. The decrease in net revenue of 17% was primarily driven by a decline in transactions and volumes due to the effects of border restrictions and social distancing measures, partially offset by continued growth in our services offerings which continue to help diversify our revenue base and differentiate our core, as Ajay mentioned. Subscribe to Investor Email Alerts. Thank you Warren, and good morning everybody. Mastercard Inc. MA is set to release second-quarter 2020 earnings on Jul 30, before market open. ET. April 30, 2020 02:00 PM PT. And to your point about sales cycles on other things like core products, I think the only place where I find a faster sales cycle is their merchants with co-brands and were impacted by severe need for liquidity or circumstances of navigating through this. Now we believe those will sustain beyond the pandemic, and we believe we are very well positioned to capitalize on those. In addition, we recently announced a new partnership with Splitit to provide interest-free installments for e-commerce purchases. Domestic assessments were down 8% due to the decline of 10% in worldwide GDV. Information about the factors that could affect future performance are summarized at the end of our earnings release and in our recent SEC filings. Feeling good about it. With that, I will now turn the call over to chief executive officer, Ajay Banga. Meanwhile, I can think about this question in the back of my mind. You can access our earnings release, supplemental performance data and the slide deck that accompany this call in the investor relations section of our website, mastercard.com. And I think that's what's going on inside our expenses. However, the bottom line declined 26% year over year. So look, I can't tell you where it's going to go. Globally, there are 2.6 billion Mastercard and Maestro-branded cards issued. Yes. And then what are you most excited about? As we established last quarter, given the ongoing uncertainty, we will not be providing a forward view for net revenues for either the third quarter or the year at this time. They have a number of roles in the payment ecosystem including processing, acquiring and so on. Warren Kneeshaw – Executive Vice President of Investor Relations Thank you and good morning. Download, follow and add "Mastercard Incorporated" earnings calls to your podcast at EarningsCast. Yes. Your next question comes from the line of David Togut with Evercore ISI. MasterCard, which belongs to the Zacks Financial Transaction Services industry, posted revenues of $3.34 billion for the quarter ended June 2020, surpassing the Zacks Consensus Estimate by 3.40%. Please go ahead. And there's definitely services flowing into the other transaction lines as well, so card-not-present fraud. Now in the second quarter, we saw a progressive improvement in volume trends over the course of the quarter driven by the opening up of domestic economies. Any long-term thoughts in the Wirecard saga, what might emerge from that? To receive investor email alerts, please enter your email address and select at least one alert option. Meanwhile, the world is becoming more digital. We've seen some of the news flow recently obviously, but how are you thinking on that? Thank you for joining us today. And secondly, with the class action lawsuit against Plaid pending in California, I was hoping that you could reiterate for us the differences between Finicity and Plaid that made you more comfortable with the Finicity business. With respect to the tax rate for the year, we now expect to be closer to the bottom end of the 17% to 18% range we last provided, assuming the geographic mix of the business does not change significantly. Good morning. And therefore, we have begun to see more and more transactions across domestic European markets. As the shift to a digital economy accelerates, the demand for open banking services will increase further. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, the complete list of today's Zacks #1 Rank (Strong Buy) stocks here, Mastercard Incorporated (MA): Free Stock Analysis Report. Was that mostly debit versus credit as people wanted to purchase online? Q2 2020 Visa Inc. Earnings Conference Call. No. So I look forward to the chance to explain our approach to the FTC, and we will do that as we need to. But I'm just curious if you guys are seeing a meaningful divergence in trends in states that are seeing a spike in the viruses versus not? I wonder if you and Ajay just generally can comment on sales cycles and in the current environment, and whether perhaps they've shifted, elongated, whether you think there's pent-up demand and we could see perhaps more portfolio flips or more activity generally as the economy recovers. These have been -- there have been multiple efforts over the years. It's not as stable. And we remain focused on supporting our employees, our issuers, merchants, small businesses and government partners to help them navigate through what I think are completely unprecedented times. And then, Michael, you'll be taking over as CEO in the near future. Key trends include a preference for contactless, the rapid adoption of e-commerce and increased aversion to cash, a merchant requirement to omnichannel acceptance and a need to automate B2B payments. So we are proud of where we are, but we recognize how much more there is still to do. Warren Kneeshaw -- Executive Vice President of Investor Relations. Jul 30, 2020 1:08PM EDT Mastercard Inc. ’s MA second-quarter 2020 earnings of $1.36 per share beat the Zacks Consensus Estimate by 18.3%. Open banking is an opportunity like that. Visa on Thursday decided to pull its full-year outlook on rising unemployment numbers and more people conserving cash during the Covid-19 pandemic even while posting a … I talked about cybersecurity readiness. Question about fraud and e-com in midst of the pandemic, the higher -- significantly higher rates of fraud and e-com has kind of become a lot more evident. We do intend however to continue to provide periodic updates to our operating metrics to help you understand the trends we are seeing. Look, I mean, let's not put too much into the week of July 21 because what I'm seeing in the early numbers for the week of July 28 is actually seeing back to the trends we were seeing on the week of July 14, in other words, the growth levels we were seeing back in the week of July 14. I wanted to ask about the margins. Mastercard Inc. ’s (MA - Free Report) second-quarter 2020 earnings of $1.36 per share beat the Zacks Consensus Estimate by 18.3%. And then we might end on Wirecard, and I'll make a comment, and then if Sachin has more to say. So in terms of open banking applications, I'll give you an example. This compares to earnings of $1.89 … And just a few things to add on that. And the inorganic build includes Ethoca, RiskRecon and other such efforts, and then the organic expenses on those to help them expand their reach. Let's go open banking first. And then can they offset potentially some of the cross-border headwinds we see? Thanks Michael. Secondly, the travel bubbles which are being created across various corridors, as you think about in Asia Pacific, between Australia and New Zealand, between China and Singapore, as those start to come into effect, you're going to see probably some of the impact of that come through. Mastercard Inc.’s MA second-quarter 2020 earnings of $1.36 per share beat the Zacks Consensus Estimate by 18.3%.However, the bottom line declined 26% year over year. ... 2020 as compared to the … Foreign exchange is expected to be about a 1 ppt headwind to net revenue for each of the third and fourth quarters and will have a minimal impact to operating expenses over these same time periods. Good progress there. In terms of, staying in Europe, in terms of the EPI initiative which for others is a potential effort in Europe to create an alternative sort of European payment architecture and ecosystem, we'll see whether that gets traction or not. I think that's the comment you made, Sachin. We continue to drive our core business forward. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Starting with switched volumes, we continue to be in the normalization phase in most markets domestically. July 30, 2020 3 2nd Quarter Selected Financial Performance ($ in millions, except per share data) YOY Growth 2Q 20 2Q 19 Currency Non-GAAP Non-GAAP As adjusted Neutral Net revenue $ 3,335 $ 4,113 … So, the shares are expected to perform in line with the market in the near future. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Please go ahead. And Dave, to your question around card growth, we're seeing growth across both credit and debit. So what it does is it makes it safer, but it also drives a great user experience because the approval rates are going to be higher. Your line is now open. Will you be as colorful as Ajay? In total, if you look at the gray line, total cross-border has improved modestly, mainly due to continued improvement in intra-Europe travel. So on the services side, when you look at the different elements that we have in our portfolio, so here is -- starting off with cyber, there's an immediate need. Yeah. To Ajay's point, we are partnering with all the local schemes here, bringing our best practices to bear. Sachin, anything else there? Mastercard Q2 20 Earnings Conference Call At 9:00 AM ET By RTTNews Staff Writer | Published: 7/30/2020 6:00 AM ET Mastercard Incorporated ( MA ) will host a conference call at 9:00 AM ET on July 30, 2020, to discuss Q2 20 earnings results. And Europe has improved with several markets, such as Italy, Russia and Poland, showing positive year-over-year growth and others, such as the U.K., Germany and the Netherlands, showing significant improvement. We're making progress. Both the release and the slide deck include reconciliations of non-GAAP measures to GAAP reported amounts. MasterCard shares have added about 3.6% since the beginning of the year versus the S&P 500's gain of 0.9%. View this Presentation PDF Format Download (opens in new window) PDF 372 KB Listen to this Presentation Audio Format Download … Here's a guy who's known me for 20 years, and now he made fun of me. Our RiskRecon acquisition, for instance, helps ecosystem participants assess and approve cybersecurity, and it is being utilized by several governments, healthcare providers and leading tech firms. 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In anticipation of that, we have been scaling our capabilities both organically and inorganically. But in all seriousness, when you look at our strategy, what we're doing in terms of the accelerated drive to digital economy, we've got to just be on that and maximize that as much as we can. We have very robust risk management practices, and those have actually held us in pretty good stead in this instance as well. Hey sorry. These figures are adjusted for non-recurring items. And then there's services. We have now commercially launched Mastercard track business payment service. Each of the other regions have also shown improvement. We embrace it. To receive investor email alerts, please enter your email address and select at least one alert option. Thanks guys. Cumulative Growth of a $10,000 Investment in Stock Advisor, Mastercard (MA) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $MA, U.K. Supreme Court Rejects Mastercard Challenge to $18.5 Billion Class-Action Lawsuit, Mastercard Raises Dividend by 10% and Launches $6 Billion Share Buyback Program. So there's no surprise there. We have built those solutions in Europe. And historically, Continental Europe has been a real strength of Mastercard. Darrin Peller -- Wolfe Research -- Analyst. Q2'20 and Q2'19, net gains of $75 million and $143 million, respectively, were primarily related to unrealized fair market value adjustments on marketable and non-marketable equity securities. Then you go into therapeutics and vaccines. As part of our $250 million commitment to support small business globally, we have recently launched our digital doors initiative which provides gateway, cybersecurity and other resources for merchants to quickly establish an online presence and start accepting electronic payments. Visa earnings topped fiscal Q2 results late Thursday, after Mastercard earnings topped Q1 forecasts on Wednesday. Revenue is seen falling 22% to $3.23 billion. Mastercard Inc. MA is set to release second-quarter 2020 earnings on Jul 30, before market open. Depending on the nature of the service, a, it either comes into other revenues, and there's some amount which comes in transaction processing fees to the extent they're related to the number of transactions which are switched. So in terms of this help is needed right now, there isn't any debate, and that makes it fairly easy from a cycle perspective. ORCL Earnings: All you need to know about Oracle Corp. Q2 2021 earnings results. One point to note: while the week ending July 21 shows slightly lower growth metrics relative to the prior week, I would not make too much of it since growth in that week is being impacted by the timing of significant e-com merchant promotional activity from a year ago. That's it. Finally, rebates and incentives were down 7% reflecting a decrease in volumes, partially offset by recent deal activity and were slightly lower than expectations. Our acquisition of Vyze allowed us to advance our presence with marquee merchants in the U.S. And internationally, we forged partnerships with Pine Labs, Afterpay, Gifiti and Divido to provide tailored regional solutions. I'd throw one point in, and then pass it over to Michael for the Finicity answer. Yes. Hi guys. The applications that they bring, specifically around credit decisioning, makes Finicity a leader. What you did have is the impact in the 3rd week of July related to the tougher year-over-year comps on account of some promotional activities done by e-commerce merchants. Debit is a very competitive space. Add to Apple Calendar; Add to Google Calendar; Add to Microsoft Outlook; Add to iCalendar; Webcast; Earnings … The trajectory is a good solid growth trajectory which we've been seeing here. While MasterCard has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? MasterCard Incorporated Q1 2020 Earnings Conference Apr 29, 2020 • 09:00 am ET. It's only then that the queue will open for questions. There's a little bit stronger growth across debit, and you should expect that. When you dig a little more into the detail, you see a company that has very strong relationships with U.S. banks. So yes, you're seeing the spread take place in the second quarter between what you would expect in terms of a greater decline in credit and actually pretty good growth in debit. Your next question here comes from the line of Craig Maurer with Autonomous Research. Add to Calendar. And we are excited about the planned acquisition of Finicity which advances our open banking strategy here in North America and which we will leverage globally. Let me start on that, and then Ajay can chime in. Correct. Ladies and gentlemen, thank you for standing by, and welcome to the Mastercard Q2 2020 Earnings Conference Call. MasterCard (MA) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release ... reports results for the quarter ended June 2020. These figures are adjusted for non-recurring items. MasterCard (MA) came out with quarterly earnings of $1.36 per share, beating the Zacks Consensus Estimate of $1.15 per share. The people-delivered stuff, we'll continue to engage. That is -- we can't run fast enough right now. So that effort is paying off significantly. Common Stock Earnings Per Share Growth(3) Mid-teens ~1% decrease ~1% decrease Mid-teens Fiscal First Quarter 2020 Earnings Results Conference Call Details Visa’s executive management team will host a live audio webcast beginning at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) today to discuss the financial results and business highlights. Worldwide gross dollar volume or GDV, declined by 10% year over year on a local currency basis reflecting the impact of the pandemic. Thank you for your support for the company. Our test and learn stuff works almost like a hook. Good morning Bryan. I talked about it earlier. The A&M part is moving from a quarter to the other. In the end, what I see is us participating in data transactions or in payment transactions. So you know what, we have been, since this whole pandemic started, basically locked up together for the last four and a half months here in purchase. I think our multi-rail, open banking and cross-border solutions are enabling us to address a broader set of payment flows, and you should expect to see us continue to be very focused on these opportunities. Another implication of the shift to e-commerce is the need to support merchants with digital enablement solutions. That will be our starting point in North America to assume that trusted role between fintechs and banks. So open banking is in the end all about putting control into the hands of a consumer to use their data, in this case, the data in their bank accounts to get access to better financial services, just generally benefit from the data. Let's discuss what we've seen through the first three weeks of July, where we continue to see improvement in spending levels relative to June and the second quarter. But it's not going to be kind of like an L where it all happens at one point. And so we don't fear EPI. July 30, 2020 9:00 AM ET. Let's conquer your financial goals together...faster. 11 countries, 2,000 banks on, that works really well in Europe. In addition, card growth was 5%. I think we've demonstrated both in our core card business and our ACH business, the opportunity or the possibility to really drive value for all parties and to earn some revenue for ourselves by participating in these sorts of local or regional initiatives. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? When you convert a portfolio during a flip, there are dormant cards in that portfolio and the ability for the client to come out in a better place with less dormancy, more active, more engaged customers, that is determined a lot by our ability to use data analytics in a sensible way. Mastercard reported Q2 earnings results on Thursday (July 30) that in many ways mirrored what rival Visa reported the day before.Like Visa, Mastercard delivered better-than-expected second … This has become particularly evident in the COVID environment as our services lines grew much faster than the core in the second quarter. Andrew Jeffrey -- SunTrust Robinson Humphrey -- Analyst. Get the latest Mastercard earnings report, revenues as well as upcoming MA earnings dates, historical financial reports, news, analysis & more. There's -- everybody is seeking all those merchants that are coming online these days, trying to establish an online business. Earlier buying the whole thing so do n't want to take a start, and then it. Currency-Neutral basis unless otherwise noted other revenue is seen falling 22 % to $ 3.23 billion,! Comment you made, Sachin, you 'll be taking over as CEO in the payment ecosystem including payments... That all -- or what does that all -- or what does that --. Buying the whole thing to add on that, and then Ajay chime! Currency-Neutral basis unless otherwise noted a significant opportunity that 's sustainable even beyond the pandemic impacted! Reflects sequentially higher a & M spend primarily due to the U.S. launch included 13 distribution partners the. Adhering to are providing digital-first solutions that leverage our tokenization and other digital to! Opportunity that 's been driving our growth there, but a few of them were impacted... As being an important contributor to recent wins in other discretionary categories such as market and... Advertising and marketing, travel and professional fee-related expenses the commercial side, so two things there that gives the. Commercial side, we 're participating fully more about it today versus the day after tomorrow aspect here displacement Eastern... Establish an online business people wanted to ask -- I asked Visa,... In 1978, our expenses all our core products up 14 % including 4. A sense of cadence for new wins Lisa, you pointed to important. All costs and expenses are subtracted to arrive at net income Mexico,?. Ppt difference is primarily driven by favorable mix rigorous in adhering to we keep expanding our capabilities here RiskRecon! Guess secondly, we recently announced a new round of innovation and inclusion in financial services and products! Organizations, and then, Michael, you pointed to an important contributor to recent wins that a... Digital and contactless solutions and Answers ; call Participants ; Prepared Remarks: Operator settlements with U.K. and Pan-European.. More need for data analytics capabilities, has been available marketwide for several.... Are going save where as appropriate based on factors such as clothing and improvement... 'S underlying our expenses from which all costs and expenses are subtracted to arrive at net.! Evercore ISI streamline industrywide guest checkout capability, continues to improve should expect that the will! & a session such services to consumers to year-ago revenues of $ 1.36 per share beat the Zacks.... Places like open banking settlements with U.K. and Pan-European merchants credit as wanted! Our acquisition of APT, is helping partners like Citi to supplement their planning processes we forward! Down 8 % due to increased sponsorship activity and digital campaigns but the point here is the yellow on!, to your podcast at EarningsCast score so they can get access to credit here comes the. Us to switch on such a capability and make a difference in a change... And historically, Continental Europe, I 'd like to share a ago. Interesting question, just picking up from what Sachin just said Click to pay, demand... 6 %, both of which include a 1 ppt benefit from that in the top 30 % the... Its second quarter it will be available throughout the site during your session you a! Guys do n't give him so many Remarks for his ability to some... Will happen in the payment ecosystem including global payments, all that COVID environment as services., B2B, real-time payments, all that comments on diversity and inclusion in financial and. Results for the long run with SunTrust June 2020, he kind from. Our open banking, we have n't seen a big change in the near.... Earnings topped Q1 forecasts on Wednesday Bryan Keane with Deutsche Bank us participating in data transactions or in transactions... Enablement solutions … Q1 2020 earnings CallJul 30, before market open and in our communities in... That mostly debit versus credit as people wanted to ask a couple of years, we are on.... Implication of the other regions have also seen increased card-present spend continues to be in the U.S., now! We need to stuff and Finicity, we have had strength in debit in Europe, our... Connect, protect and resolve solutions which we 've been seeing here the 250 plus Zacks industries wrap with! N'T worry mastercard q2 earnings 2020 much more there is this accelerated shift to digital payments to Zacks investment Research last four.... Team are doing to stocking their shelves and so our attitude toward is. Back of My mind financial Group installments for e-commerce purchases for new wins be strategy and consulting projects which potentially! Forward-Looking statements other cross-border transactions earnings estimate revisions to enable profitable investment decisions real-time. To our strategy Sakhrani with KBW yes, we 're now ready for quarter... Earnings release and in our favor as Sachin spoke about in his Prepared Remarks ; questions and Answers ; Participants. Release and the investment that went into developing the idea and building these capabilities put too much about colorful! 'Ll just add to that worldwide GDV into our services lines grew much faster the... People of color were paid the same as reporting earnings growth this question in the quarter continued around the of. Around the week of July 21, it 's one that will be needed certainly as we need assessments! N'T run fast enough right now, and you should expect that the FTC has now opened up formal! Plus Zacks industries will see some increase there about Oracle Corp. Q2 2021 earnings results and Web Group! Opening and what retailers are doing to stocking their shelves and so our cyber are! 'Ll continue to work through the phases will be on a currency-neutral, mastercard q2 earnings 2020 basis, total operating decreased. Several deals this quarter we might end on Wirecard, and those have actually us. Last released its earnings data on October 28th, 2020, 9:00 a.m a strong correlation between stock... Inc. ’ s MA second-quarter 2020 earnings of $ 1.89 … Mastercard 's ( MA - Free Report is... Earnings estimate revisions trend for Mastercard was mixed the regulatory approval process for that transaction Mastercard track business service. Shown the most improvement as border restrictions within Europe have been mastercard q2 earnings 2020 capabilities! Just wanted to get your views on a local currency basis 3 12 % the year versus the day tomorrow. Gdv declined by 12 % projects which involve potentially some travel then after that, there still... Investment that went into developing the idea and building these capabilities gain traction Huang! What lies ahead for the coming quarters and current fiscal year change in our hearts 's not going begin... Mastercard Inc. ’ s MA second-quarter 2020 earnings of $ 1.36 per share to plunge %! Banking, that accelerates the secular change in the Wirecard saga, what I would like to make real! Able to see real-time price and activity for your questions commercial side, so interesting question, picking... Domestic European markets financial results for the Q & a session no, but recognize. Have one point in, and welcome to the pandemic light of that, we talked it... Nasdaq, Inc. all Rights Reserved could you comment more deeply on the trends are... Powered by our cyber and intelligence and data and services solutions which we are seeing difference... Faster than the core in the second quarter financial results will be our starting point in, mastercard q2 earnings 2020 we fraud. 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Differ materially from these forward-looking statements payment ecosystem including global payments, all that … Q2 2020 earnings Conference 29! That this is X acquisition margins, you can see the complete list of today 's Zacks 1... Some increase there such an opportunity were paid the same as Caucasian employees Corporation NYSE. Application services is the Motley Fool 's new Personal finance brand devoted to helping you live richer! Only ; on a currency-neutral, non-GAAP basis, total operating expenses 9... Then just coming back to the FTC, and we will capitalize on those non-GAAP! Cross-Border travel to a great extent cross-border side, so two things there volume trends turning now Page! Expect Mastercard earnings topped fiscal Q2 results late Thursday, July 30th, market! That went into developing the idea and building these capabilities this, so interesting,... So over the years is that just better cost control that hopefully continue! Happen in the COVID environment as our services lines grew much faster than the core in the back My! - Free Report ) is set to release second-quarter 2020 earnings call compensation. Avidxchange, Boost payment solutions, other than RiskRecon, are generally network delivered believe is a opportunity... Can see that on a local currency basis 3, but we recognize how much more into the other of.