diff --git a/emacs/notmuch.el b/emacs/notmuch.el
index f851c6f7..99e0c93a 100644
--- a/emacs/notmuch.el
+++ b/emacs/notmuch.el
@@ -872,16 +872,18 @@ non-authors is found, assume that all of the authors match."
 		      (goto-char (point-max))
 		      (if (/= (match-beginning 1) line)
 			  (insert (concat "Error: Unexpected output from notmuch search:\n" (substring string line (match-beginning 1)) "\n")))
-		      (let ((beg (point)))
-			(notmuch-search-show-result date count authors
-						    (notmuch-prettify-subject subject) tags)
-			(notmuch-search-color-line beg (point) tag-list)
-			(put-text-property beg (point) 'notmuch-search-thread-id thread-id)
-			(put-text-property beg (point) 'notmuch-search-authors authors)
-			(put-text-property beg (point) 'notmuch-search-subject subject)
-			(when (string= thread-id notmuch-search-target-thread)
-			  (set 'found-target beg)
-			  (set 'notmuch-search-target-thread "found")))
+		      ;; We currently just throw away excluded matches.
+		      (unless (eq (aref count 1) ?0)
+			(let ((beg (point)))
+			  (notmuch-search-show-result date count authors
+						      (notmuch-prettify-subject subject) tags)
+			  (notmuch-search-color-line beg (point) tag-list)
+			  (put-text-property beg (point) 'notmuch-search-thread-id thread-id)
+			  (put-text-property beg (point) 'notmuch-search-authors authors)
+			  (put-text-property beg (point) 'notmuch-search-subject subject)
+			  (when (string= thread-id notmuch-search-target-thread)
+			    (set 'found-target beg)
+			    (set 'notmuch-search-target-thread "found"))))
 		      (set 'line (match-end 0)))
 		  (set 'more nil)
 		  (while (and (< line (length string)) (= (elt string line) ?\n))