Subtext

Mastercard Incorporated MA

SectorFinancials
Transcripts69
Date range2008-04-29 – 2025-05-01
Calls charted69

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-12-6+0+6+122008 Q12010 Q22012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42008 Q1 · Overall: +2.72008 Q2 · Overall: -4.02008 Q3 · Overall: -3.62008 Q4 · Overall: -1.32009 Q1 · Overall: -2.22009 Q2 · Overall: +0.32009 Q3 · Overall: +3.82009 Q4 · Overall: +10.42010 Q1 · Overall: +10.62010 Q2 · Overall: +2.62010 Q3 · Overall: +4.22010 Q4 · Overall: -0.22011 Q1 · Overall: +0.92011 Q2 · Overall: +5.02011 Q3 · Overall: +3.72011 Q4 · Overall: +2.82012 Q1 · Overall: +3.82012 Q2 · Overall: +3.12012 Q3 · Overall: +2.02012 Q4 · Overall: +4.52013 Q1 · Overall: +0.32013 Q2 · Overall: +4.62013 Q3 · Overall: +3.12013 Q4 · Overall: +0.32014 Q1 · Overall: -0.22014 Q2 · Overall: +2.92014 Q3 · Overall: +2.02014 Q4 · Overall: +3.32015 Q1 · Overall: +4.62015 Q2 · Overall: +3.22015 Q3 · Overall: +1.12015 Q4 · Overall: +1.92016 Q1 · Overall: +1.52016 Q2 · Overall: +4.42016 Q3 · Overall: +3.72016 Q4 · Overall: +5.02017 Q1 · Overall: +5.72017 Q2 · Overall: +10.82017 Q3 · Overall: +4.92017 Q4 · Overall: +6.32018 Q1 · Overall: +8.02018 Q2 · Overall: +4.62018 Q3 · Overall: +5.62018 Q4 · Overall: +6.52019 Q1 · Overall: +5.22019 Q2 · Overall: +6.32019 Q3 · Overall: +3.52019 Q4 · Overall: +0.82020 Q1 · Overall: +4.02020 Q2 · Overall: +8.22020 Q3 · Overall: +5.62020 Q4 · Overall: +4.22021 Q1 · Overall: +10.52021 Q2 · Overall: +10.42021 Q3 · Overall: +9.32021 Q4 · Overall: +6.52022 Q1 · Overall: +5.42022 Q2 · Overall: +8.12022 Q3 · Overall: +9.32022 Q4 · Overall: +9.02023 Q1 · Overall: +10.12023 Q2 · Overall: +9.72023 Q3 · Overall: +7.62023 Q4 · Overall: +5.82024 Q1 · Overall: +8.82024 Q2 · Overall: +9.12024 Q3 · Overall: +9.42024 Q4 · Overall: +9.92025 Q1 · Overall: +6.9
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-28-14+0+14+282008 Q12010 Q22012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42008 Q1 · CEO: +3.62008 Q3 · CEO: +1.02008 Q4 · CEO: +4.02009 Q1 · CEO: +1.02009 Q2 · CEO: +5.22009 Q3 · CEO: +12.02009 Q4 · CEO: +24.62010 Q1 · CEO: +23.92010 Q2 · CEO: +4.02010 Q3 · CEO: +6.52010 Q4 · CEO: +0.32011 Q1 · CEO: +2.12011 Q2 · CEO: +6.62011 Q3 · CEO: +5.82011 Q4 · CEO: +5.22012 Q1 · CEO: +8.72012 Q2 · CEO: +9.72012 Q3 · CEO: +4.52012 Q4 · CEO: +5.72013 Q1 · CEO: +2.32013 Q2 · CEO: +8.32013 Q3 · CEO: +5.42013 Q4 · CEO: +3.02014 Q1 · CEO: +2.12014 Q2 · CEO: +5.02014 Q3 · CEO: +6.42014 Q4 · CEO: +6.92015 Q1 · CEO: +9.22015 Q2 · CEO: +5.72015 Q3 · CEO: +3.12015 Q4 · CEO: +7.22016 Q1 · CEO: +2.12016 Q2 · CEO: +8.92016 Q3 · CEO: +6.92016 Q4 · CEO: +8.42017 Q1 · CEO: +7.62017 Q2 · CEO: +13.72017 Q3 · CEO: +6.82017 Q4 · CEO: +9.72018 Q1 · CEO: +12.52018 Q2 · CEO: +7.32018 Q3 · CEO: +5.72018 Q4 · CEO: +10.92019 Q1 · CEO: +7.42019 Q2 · CEO: +9.42019 Q3 · CEO: +4.82019 Q4 · CEO: +3.02020 Q1 · CEO: +5.52020 Q2 · CEO: +8.22020 Q3 · CEO: +9.02020 Q4 · CEO: +10.52021 Q1 · CEO: +15.72021 Q2 · CEO: +15.92021 Q3 · CEO: +15.82021 Q4 · CEO: +13.12022 Q1 · CEO: +13.82022 Q2 · CEO: +15.52022 Q3 · CEO: +15.72022 Q4 · CEO: +16.42023 Q1 · CEO: +15.72023 Q2 · CEO: +15.62023 Q3 · CEO: +11.02023 Q4 · CEO: +8.22024 Q1 · CEO: +14.92024 Q2 · CEO: +11.92024 Q3 · CEO: +15.42024 Q4 · CEO: +15.22025 Q1 · CEO: +14.32008 Q1 · CFO: +7.62008 Q2 · CFO: -0.82008 Q3 · CFO: +0.02008 Q4 · CFO: -1.22009 Q1 · CFO: -1.62009 Q2 · CFO: +1.42009 Q3 · CFO: +3.12009 Q4 · CFO: +5.82010 Q1 · CFO: +4.62010 Q2 · CFO: +4.62010 Q3 · CFO: -2.12010 Q4 · CFO: +7.82011 Q1 · CFO: +3.22011 Q2 · CFO: +5.92011 Q3 · CFO: +2.92011 Q4 · CFO: +8.12012 Q1 · CFO: +1.32012 Q2 · CFO: +2.12012 Q3 · CFO: +3.62013 Q1 · CFO: +3.32013 Q2 · CFO: +0.72013 Q3 · CFO: +4.12013 Q4 · CFO: +4.92014 Q1 · CFO: -0.42014 Q2 · CFO: +1.62014 Q3 · CFO: +2.02014 Q4 · CFO: +2.62015 Q1 · CFO: +3.12015 Q2 · CFO: +4.52015 Q3 · CFO: +0.82015 Q4 · CFO: +0.02016 Q1 · CFO: +2.22016 Q2 · CFO: +2.12016 Q3 · CFO: +2.12016 Q4 · CFO: +4.52017 Q1 · CFO: +8.82017 Q2 · CFO: +12.32017 Q3 · CFO: +11.22017 Q4 · CFO: +5.22018 Q1 · CFO: +5.82018 Q2 · CFO: +6.82018 Q3 · CFO: +7.32018 Q4 · CFO: +6.82019 Q1 · CFO: +4.82019 Q2 · CFO: +6.72019 Q3 · CFO: +14.12019 Q4 · CFO: -1.62020 Q1 · CFO: +4.92020 Q2 · CFO: +7.62020 Q3 · CFO: +2.92020 Q4 · CFO: +2.72021 Q1 · CFO: +7.32021 Q2 · CFO: +8.22021 Q3 · CFO: +8.22021 Q4 · CFO: +4.42022 Q1 · CFO: +5.52022 Q2 · CFO: +4.22022 Q3 · CFO: +6.12022 Q4 · CFO: +5.92023 Q1 · CFO: +5.42023 Q2 · CFO: +6.12023 Q3 · CFO: +7.32023 Q4 · CFO: +7.12024 Q1 · CFO: +4.32024 Q2 · CFO: +10.62024 Q3 · CFO: +8.82024 Q4 · CFO: +7.32025 Q1 · CFO: +3.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-27-13+0+13+272008 Q12010 Q22012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42008 Q1 · Prepared remarks: +6.22008 Q2 · Prepared remarks: -3.62008 Q3 · Prepared remarks: -0.32008 Q4 · Prepared remarks: +9.02009 Q1 · Prepared remarks: -3.92009 Q2 · Prepared remarks: -2.42009 Q3 · Prepared remarks: +5.92009 Q4 · Prepared remarks: +14.22010 Q1 · Prepared remarks: +17.02010 Q2 · Prepared remarks: +8.42010 Q3 · Prepared remarks: +4.42010 Q4 · Prepared remarks: +7.72011 Q1 · Prepared remarks: +5.32011 Q2 · Prepared remarks: +7.42011 Q3 · Prepared remarks: +5.42011 Q4 · Prepared remarks: +4.72012 Q1 · Prepared remarks: +8.32012 Q2 · Prepared remarks: +5.42012 Q3 · Prepared remarks: +7.62012 Q4 · Prepared remarks: +4.92013 Q1 · Prepared remarks: +3.52013 Q2 · Prepared remarks: +6.92013 Q3 · Prepared remarks: +6.92013 Q4 · Prepared remarks: +2.22014 Q1 · Prepared remarks: +5.82014 Q2 · Prepared remarks: +4.62014 Q3 · Prepared remarks: +8.12014 Q4 · Prepared remarks: +5.02015 Q1 · Prepared remarks: +8.62015 Q2 · Prepared remarks: +5.72015 Q3 · Prepared remarks: +2.62015 Q4 · Prepared remarks: +5.22016 Q1 · Prepared remarks: +1.22016 Q2 · Prepared remarks: +4.42016 Q3 · Prepared remarks: +4.72016 Q4 · Prepared remarks: +7.52017 Q1 · Prepared remarks: +11.22017 Q2 · Prepared remarks: +11.92017 Q3 · Prepared remarks: +9.92017 Q4 · Prepared remarks: +8.12018 Q1 · Prepared remarks: +14.62018 Q2 · Prepared remarks: +9.82018 Q3 · Prepared remarks: +11.32018 Q4 · Prepared remarks: +11.62019 Q1 · Prepared remarks: +9.72019 Q2 · Prepared remarks: +8.62019 Q3 · Prepared remarks: +12.12019 Q4 · Prepared remarks: +8.92020 Q1 · Prepared remarks: +8.02020 Q2 · Prepared remarks: +12.42020 Q3 · Prepared remarks: +11.72020 Q4 · Prepared remarks: +12.52021 Q1 · Prepared remarks: +23.32021 Q2 · Prepared remarks: +16.92021 Q3 · Prepared remarks: +23.12021 Q4 · Prepared remarks: +13.72022 Q1 · Prepared remarks: +12.32022 Q2 · Prepared remarks: +15.82022 Q3 · Prepared remarks: +15.62022 Q4 · Prepared remarks: +9.32023 Q1 · Prepared remarks: +11.12023 Q2 · Prepared remarks: +11.62023 Q3 · Prepared remarks: +16.22023 Q4 · Prepared remarks: +8.12024 Q1 · Prepared remarks: +15.02024 Q2 · Prepared remarks: +14.02024 Q3 · Prepared remarks: +17.02024 Q4 · Prepared remarks: +12.32025 Q1 · Prepared remarks: +13.22008 Q1 · Q&A responses: +3.02008 Q2 · Q&A responses: -0.32008 Q3 · Q&A responses: +0.02008 Q4 · Q&A responses: -6.52009 Q1 · Q&A responses: +3.12009 Q2 · Q&A responses: +6.92009 Q3 · Q&A responses: +7.92009 Q4 · Q&A responses: +11.82010 Q1 · Q&A responses: +8.12010 Q2 · Q&A responses: +0.72010 Q3 · Q&A responses: +4.22010 Q4 · Q&A responses: -3.92011 Q1 · Q&A responses: +0.42011 Q2 · Q&A responses: +7.42011 Q3 · Q&A responses: +4.52011 Q4 · Q&A responses: +5.82012 Q1 · Q&A responses: +3.52012 Q2 · Q&A responses: +4.52012 Q3 · Q&A responses: +0.82013 Q1 · Q&A responses: +2.12013 Q2 · Q&A responses: +5.02013 Q3 · Q&A responses: +3.22013 Q4 · Q&A responses: +2.72014 Q1 · Q&A responses: -1.52014 Q2 · Q&A responses: +2.22014 Q3 · Q&A responses: +2.72015 Q1 · Q&A responses: +3.92015 Q2 · Q&A responses: +3.32015 Q3 · Q&A responses: +1.72015 Q4 · Q&A responses: +3.52016 Q1 · Q&A responses: +1.92016 Q2 · Q&A responses: +7.02016 Q3 · Q&A responses: +5.72016 Q4 · Q&A responses: +5.02017 Q1 · Q&A responses: +4.12017 Q2 · Q&A responses: +12.72017 Q3 · Q&A responses: +4.52017 Q4 · Q&A responses: +6.62018 Q1 · Q&A responses: +4.32018 Q2 · Q&A responses: +4.42018 Q3 · Q&A responses: +2.82018 Q4 · Q&A responses: +5.62019 Q1 · Q&A responses: +4.02019 Q2 · Q&A responses: +8.92019 Q3 · Q&A responses: +2.62019 Q4 · Q&A responses: -4.02020 Q1 · Q&A responses: +2.82020 Q2 · Q&A responses: +8.22020 Q3 · Q&A responses: +4.82020 Q4 · Q&A responses: -0.22021 Q1 · Q&A responses: +4.32021 Q2 · Q&A responses: +8.42021 Q3 · Q&A responses: +5.32021 Q4 · Q&A responses: +4.22022 Q1 · Q&A responses: +4.82022 Q2 · Q&A responses: +4.62022 Q3 · Q&A responses: +6.42023 Q1 · Q&A responses: +10.12023 Q2 · Q&A responses: +10.02023 Q3 · Q&A responses: +2.62023 Q4 · Q&A responses: +7.02024 Q1 · Q&A responses: +9.52024 Q2 · Q&A responses: +8.42024 Q3 · Q&A responses: +7.92024 Q4 · Q&A responses: +10.12025 Q1 · Q&A responses: +3.6
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.14$9.75$17.352008 Q12010 Q22012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42014 Q1: $3.192014 Q2: $3.312014 Q3: $3.442014 Q4: $3.612015 Q1: $3.662015 Q2: $3.772015 Q3: $3.822015 Q4: $3.902016 Q1: $3.682016 Q2: $3.852016 Q3: $4.062016 Q4: $4.292017 Q1: $4.432017 Q2: $4.662017 Q3: $5.032017 Q4: $5.362018 Q1: $6.262018 Q2: $6.872018 Q3: $7.232018 Q4: $7.532019 Q1: $7.892019 Q2: $8.322019 Q3: $8.672019 Q4: $9.052020 Q1: $9.272020 Q2: $7.632020 Q3: $8.202020 Q4: $8.252021 Q1: $8.662021 Q2: $9.142021 Q3: $10.022021 Q4: $10.532022 Q1: $10.982022 Q2: $11.632022 Q3: $12.132022 Q4: $12.172023 Q1: $12.772023 Q2: $13.432023 Q3: $13.942023 Q4: $14.242024 Q1: $14.992024 Q2: $15.472024 Q3: $16.042024 Q4: $16.30

Forward P/E

20.4132.9445.462008 Q12010 Q22012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42014 Q1: 24.532014 Q2: 22.732014 Q3: 22.142014 Q4: 23.472015 Q1: 24.272015 Q2: 25.022015 Q3: 24.272015 Q4: 25.652016 Q1: 24.462016 Q2: 24.282016 Q3: 24.332016 Q4: 24.072017 Q1: 25.262017 Q2: 26.292017 Q3: 27.852017 Q4: 28.302018 Q1: 28.762018 Q2: 29.032018 Q3: 30.192018 Q4: 24.852019 Q1: 28.942019 Q2: 31.232019 Q3: 31.732019 Q4: 32.572020 Q1: 24.582020 Q2: 39.812020 Q3: 41.702020 Q4: 40.252021 Q1: 43.732021 Q2: 39.782021 Q3: 34.412021 Q4: 32.892022 Q1: 31.392022 Q2: 27.982022 Q3: 26.862022 Q4: 29.382023 Q1: 27.262023 Q2: 27.922023 Q3: 29.872023 Q4: 29.822024 Q1: 31.722024 Q2: 29.092024 Q3: 30.842024 Q4: 31.90

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q3 tone ↓ -2.1 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -6.0 fwd EPS ↑ +0.37 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -3.4 fwd EPS ↑ +0.61 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -2.8 fwd EPS ↑ +0.35 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -2.7 fwd EPS ↑ +0.38 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +4.2 fwd EPS ↓ -1.64 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -2.6 fwd EPS ↑ +0.57 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -2.8 fwd EPS ↑ +0.51 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -2.1 fwd EPS ↑ +0.51 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+6.9——View →
2024 Q42025-01-30+9.9$16.3031.9View →
2024 Q32024-10-31+9.4$16.0430.8View →
2024 Q22024-07-31+9.1$15.4729.1View →
2024 Q12024-05-01+8.8$14.9931.7View →
2023 Q42024-01-31+5.8$14.2429.8View →
2023 Q32023-10-26+7.6$13.9429.9View →
2023 Q22023-07-27+9.7$13.4327.9View →