What’s Going On With Marqeta Stock After Hours? – Marqeta (NASDAQ:MQ)

Marqeta Inc MQ shares are trading lower in Tuesday’s after-hours session after the company reported fourth-quarter results and issued guidance for slowing growth.

What Happened: Marqeta reported fourth-quarter revenue of $203.81 million, which beat average analyst estimates of $201.93 million, according to Benzinga Pro. The company’s top-line results were up 31% on a year-over-year basis. Marqeta reported a quarterly loss of 5 cents per share, which beat estimates for a loss of 9 cents per share.

“We are entering 2023 uniquely positioned to capture the massive opportunity in embedded finance. Our cloud native and API-first platform offers a fully bundled offering – debit, credit, risk, money movement and program management tools, making it seamless for our customers to embed financial services into their own products,” said Simon KhalafCEO of Marqeta.

Net revenue grew 45% for the year. Marqeta said it expects revenue growth to be in the range of 26% to 28% in the first quarter. It appears selling pressure is related to the company’s weaker growth outlook. Adjusted EBITDA margins are expected to be in a range of negative 5% to negative 6%.

See Also: After-Hours Action: What’s Going On With Marathon Digital Stock?

MQ Price Action: Marqeta shares are down 19.1% after hours at $4.69 at the time of writing, according to Benzinga Pro.

Author: jeserje

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