Marqeta soars after quarterly revenue beats expectations

Marqeta

27/02/2025 19:27

** Shares of card issuer Marqeta MQ.O jump as much as 24.6%

** MQ, late Wednesday, posted Q4 net revenue of $135.8 million, beating Wall Street expectations of $132.8 million, according to data compiled by LSEG

** Total processing volume jumped 29% to $80 billion in the quarter, driven by strong holiday spending

** Company announced the departure of CEO Simon Khalaf, with Chief Financial Officer Mike Milotich taking the helm in the interim

** MQ also forecast net revenue growth of 16% to 18% in 2025, implying net revenue of $588 million to $598 million, compared with Street expectations of $582 million

** J.P.Morgan analyst Tien-tsin Huang says the earnings and forecast were reassuring, adding the progress should set MQ back on track to hit its medium-term growth objectives next year

** As of last close, MQ stock down 7.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))