Why Bitcoin- And Ethereum-Related Stock Marqeta Is Exploding Higher
Portfolio Pulse from Henry Khederian
Marqeta Inc (NASDAQ:MQ) reported mixed Q2 financial results, with losses of 11 cents per share, 10% below the estimated loss. However, sales surpassed estimates by 5.37% at $231.0 million, a 23.74% rise YoY. Gross profit rose 8% YoY to $85 million, driven by TPV growth. Net loss increased by $14 million to $59 million due to higher compensation & benefits related to restructuring charges and post-combination compensation. Total Processing Volume surged 33% YoY to $54 billion. Adjusted EBITDA improved by $11 million YoY, reaching $1 million.
August 09, 2023 | 2:16 pm
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Marqeta's mixed Q2 results showed higher losses but also higher sales, gross profit, and TPV. The net loss increase was due to higher compensation & benefits related to restructuring and post-combination compensation.
Marqeta's mixed Q2 results showed both positive and negative aspects. While losses were higher than estimated, sales, gross profit, and TPV all increased. The net loss increase was due to higher compensation & benefits related to restructuring and post-combination compensation. This could have both positive and negative impacts on the stock price in the short term.
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