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Stock impact report

Marqeta (MQ) Soars 8.9% on Q3 Blowout [Yahoo! Finance]

Marqeta, Inc. - Class A (MQ) 
Company Research Source: Yahoo! Finance
Marqeta jumped by 8.93 percent on Thursday to close at $4.88 apiece, as investors cheered the significant slash in its net losses in the third quarter of the year. In its updated report, Marqeta Inc. (NASDAQ:MQ) said net loss shrank by 87 percent to $3.6 million from the $28.6 million in the same period last year. Net revenues improved by 28 percent to $163 million from $127.97 million year-on-year, primarily driven by increased volumes, partially offset by unfavorable mix due to faster growth of card programs where it provided processing services with minimal or no program management. Adjusted EBITDA jumped by 42.8 percent to $30 million from $21 million. “Our robust Q3 financial results demonstrate our business momentum and our ability to deliver strong growth while rapidly improving our profitability,” CEO and CFO Mike Milotich said. “Marqeta's unique combination of modern capabilities, scale, geographic reach, expertise and flexibility continues to enable both innovatio Show less Read more
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