Mastercard warns of slowing revenue growth despite resilient consumer spending

Yahoo Finance Live anchors discuss Mastercard CEO Michael Miebach’s take on quarterly earnings.

Video transcript

[AUDIO LOGO]

BRAD SMITH: Mastercard earnings, they cashed in above expectations, as the CEO flexed remarkably resilient consumer spending despite economic uncertainties but warned that revenue growth would slow more than expected.

You're seeing shares down right now by about 1 and 1/4 percent here. But for Mastercard and that slowing growth that they are warning of, I think that this is kind of a shot out there for some of the banks or some of the firms' rather, analysts that had been really bullish on Visa and Mastercard and leaning on consumers at a time of their own spending uncertainty, leaning on some of their credit spending as well.

BRIAN SOZZI: Yeah, well, we did see a little bit of a slowdown in the credit card spending at the various banks when they reported, Brad, a couple of weeks ago. You're right-on there. So not necessarily surprised.

And of course, we have to watch for American Express. They report their earnings before the bell tomorrow morning. But I think there's another story starring to emerge at Mastercard. And Julie, I was thinking back to a conversation we had at Davos. Just off the cuff, we had a little drink here with Mastercard CEO Michael Maybach, just him driving better culture at the company. I think that'll be very telling if we do go into a recession. I think it'll be very helpful just to improve your culture.