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Stock impact report

Marqeta flags Cash App hit [Yahoo! Finance]

Marqeta, Inc. - Class A (MQ) 
Company Research Source: Yahoo! Finance
This story was originally published on Payments Dive . To receive daily news and insights, subscribe to our free daily Payments Dive newsletter Dive Brief: Card issuer Marqeta is forecasting choppier financial results later this year as its largest customer, Block, reaps lower pricing from its Cash App debit card program and moves some new business to an alternate provider. Players in the payments field, like Block, often have multiple providers but concentrate the majority of their business with one of them, Marqeta CEO Mike Milotich said on a conference call Tuesday with analysts. “How that plays out for us with Cash App remains to be seen, but we feel really good about our ability to remain their primary partner,” he said. Marqeta also said in an investor presentation that the company expects to report a small net income of about $10 million this year, which would be the first since 2024 when the Oakland, California-based company turned profitable by not making an executiv Show less Read more
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