What's Going On With Bitcoin- And Ethereum-Related Stock Marqeta?
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 of 10 cents. Sales were $231.0 million, surpassing the estimated $219.22 million by 5.37% and reflecting a 23.74% rise from the same period last year. Gross profit rose 8% YoY to $85 million, driven by TPV growth. However, 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.
August 10, 2023 | 4:50 pm
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Marqeta's mixed Q2 results, with higher sales but increased net loss, may impact investor sentiment and the stock's performance.
Marqeta's Q2 results showed higher sales, surpassing estimates, which is a positive sign. However, the increased net loss due to higher compensation & benefits could negatively impact investor sentiment and the stock's performance in the short term.
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