Marqeta's Q4 Revenue Beats, EPS Meets
Marqeta posted solid fourth-quarter results highlighting its growth in processing volume, but faced challenges due to changes in a key contract.
Marqeta (NASDAQ:MQ), a financial services company known for its innovative credit and payment card issuing platform, reported solid fourth-quarter results on Feb. 26. Revenue increased 14% to $136 million, surpassing analyst predictions of $132 million. However, its annual revenue dropped 25% due to contract changes. The quarter was notable for the company's strong total processing volume, which rose 29% from the prior-year period to $80 billion. Its net loss contracted to $0.05 per share, in line with analysts' estimates.
Source: Analysts' estimates for the quarter provided by FactSet.
Marqeta is a financial technology company offering a global, cloud-based, open API platform for card issuing and payment processing. This platform provides clients with the capabilities to develop, grow, and control card programs efficiently. The platform's key features, such as just-in-time funding and dynamic spending controls, ensure it remains a competitive choice for diverse client needs.
