Why Bitcoin-, Ethereum-Related Stock Marqeta Is Moving Higher During Wednesday’s After-Hours Session

Marqeta Inc (NASDAQ: MQ) shares are buying and selling larger by 7.32% to $6.69 throughout Wednesday’s after-hours session after the corporate reported combined third-quarter financial results.

What Occurred?

Marqeta reported a third-quarter EPS lack of 10 cents, which missed the analyst consensus estimate of a lack of 9 cents. In the meantime, gross sales of $191.62 million beat the $180.86 million estimate.

Gross revenue for the corporate was $80 million, a rise of 36% year-over-year, leading to a gross margin of 42%.

Marqeta’s GAAP web loss was $53 million, and Adjusted EBITDA loss was $14 million.

“This current quarter serves as an important instance of our continued success and the super market alternative in entrance of Marqeta. We signed revolutionary new clients in each the US and Europe, we expanded our platform with the launch of recent banking capabilities to enhance our management in trendy card issuing, and elevated the worldwide utility of our platform with our European knowledge residency program,” stated Jason Gardner, Founder and CEO of Marqeta.

In response to knowledge from Benzinga Pro, MQ has a 52-week excessive of $30.28 and a 52-week low of $6.05.

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