MasterCard's Earnings a Mixed Bag

Honestly, is it so hard to say two things at once? Does attempting the trick, especially in an all-important headline, make business journalists tumble over their tongues? Swallow a tooth? Sprain a typing finger?

It must be hard -- really hard -- because only about half of business media outlets managed to do it when it came to covering MasterCard's(MA Quote) earnings.

But if you are trying to impart any sense of the reality of the MasterCard's quarter and condition, you need to say two things at once. After all, earnings were down, but they beat expectations. Handily.

Hey, look at that! The Business Press Maven just said two things at once, and I didn't even have to try very hard.

Leave out one of these elements, and you are only summarizing half the story. Even less, with all the credits and charges and currency and volume weakness involved, you don't want to leave any chance that investors will be misled.

Look at this misleading headline from Fox Business News: "MasterCard Fourth-quarter Profit Falls."

You'd never guess from this headline that earnings came in so resoundingly above expectations that the stock popped about a dozen percent -- and not without decent reason.

But headlines that focused on the profit beat only were similarly misleading. Sure, any company that surpasses expectations in this environment deserves a light kiss on the cheek. But this was a mixed report, and the headlines should have reflected that.

Here's our own TheStreet.com, which chose to showcase the positive: "MasterCard Surges, After Profit Beat."