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Mastercard 2q26: ~40% of revenue growing at ~20%. Time to pay more attention to services especially cyber?

发布日期: 2026-07-30研究机构: Bernstein公司 / 股票: MA报告页数: 23原文语言: English证据页码: 16

研报英文原文证据摘录

Mastercard 2q26: ~40% of revenue growing at ~20%. Time to pay more attention to services especially cyber?

Harshita Rawat, CFA +1 917 344 8485 harshita.rawat@bernsteinsg.com 30 July 2026

• Neutral (N): The total return of the preferred instrument is expected to perform in line with preferred securities of other issuers

operating in similar sectors or rating categories over the next six months.

• Underperform (UP): The total return of the preferred instrument is expected to underperform preferred securities of other

issuers operating in similar sectors or rating categories over the next six months.

Autonomous preferred stock ratings are based on a 6-month time horizon.

AUTONOMOUS CREDIT RESEARCH

Where this report contains investment recommendations for credit instruments, as defined in article 3(1)(35) of the Market Abuse

Regulation, the information below is presented to comply with its disclosure requirements.

The report may also include reference(s) to published opinions by other Autonomous or Bernstein analysts covering the equity

securities of the issuer(s) referenced herein. Please note an investment recommendation for credit instruments published by the

author(s) of this report may differ from the published view of the analyst covering equity securities for the issuer(s) contained in

this report and vice versa.

CREDIT RATINGS DEFINITIONS

The Autonomous brand has three categories of credit ratings:

• Credit Outperform (C-OP): The total return of the Reference Credit Instrument is expected to outperform the credit spread of

bonds of other issuers operating in similar sectors or rating categories over the next six months.

• Credit Neutral (C-N): The total return of the Reference Credit Instrument is expected to perform in line with the credit spread

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