CA - Mastercard Incorporated (MA) Bernstein Strategic Decisions Conference (Transcript)
2024-05-29 22:50:24 ET
Mastercard Incorporated (MA)
Bernstein Strategic Decisions Conference
May 29, 2024 01:30 PM ET
Company Participants
Sachin Mehra - Chief Financial Officer
Conference Call Participants
Harshita Rawat - Bernstein
Presentation
Harshita Rawat
Good afternoon, everyone. I'm Harshita Rawat, Bernstein Senior Analyst covering payments, and I'm delighted to be joined today by Sachin Mehra, Mastercard CFO. Sachin, thank you so much for joining us today.
Sachin Mehra
Thank you for having me here, Harshita.
Question-and-Answer Session
Q - Harshita Rawat
So just to kick off our conversation, can we start with your views of the consumer spending trends you're seeing in the market?
Sachin Mehra
Sure. Well good afternoon everyone and thanks for being here. It's great to see so many people here. I was just making a comment to Harshita that coming out of COVID, you would come for these conferences and you'd probably see some semblance of people there. But this is a full house, and we appreciate you taking the time to come and hear the Mastercard story. So specifically to your question on consumer spending trends, I think most of you have probably heard as part of our Q1 earnings call, we shared our views around how we see consumer spending trending.
The consumers still continue to be healthy. They are spending in a healthy manner. We talked about how when you adjust for the idiosyncrasies associated with the timing of Easter and the leap year effects, we have generally seen stable trends from a consumer spending standpoint. And that was certainly true of what we shared with you at the time of the first quarter earnings call. And fast forward to where we are through the third week of May, we are still seeing fairly stable trends consumer spending standpoint.
So all-in-all, we are continuing to see the consumer be healthy. Obviously, we are monitoring both headwinds and tailwinds as part of this process. None of this will be new news to you on the tailwind side. You've got very strong employment markets which are there across the globe. You've got strong wage growth, which is taking place. In several markets, wage growth is running at paces ahead of the rate of inflation. And then on the headwind side, in some markets, inflation is proving to be sticky even though it is moderated some, it's proving to be sticky....
Mastercard Incorporated (MA) Bernstein Strategic Decisions Conference (Transcript)