Stock Track | Marqeta Surges on Regulatory Delays, Cuts Q4 Outlook

Stock Track11-06

Shares of Marqeta Inc. (MQ) soared 6.43% on November 5, 2024, as the financial technology company slashed its fourth-quarter guidance, citing heightened regulatory scrutiny on its bank partners as a key factor behind the reduced outlook.

The Oakland, California-based company, which provides payment card services to companies like Block (SQ) and Affirm, now expects fourth-quarter revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. It also guided for gross profit growth of 13% to 15% in the fourth quarter, well below its prior estimate of around 25% to 27%.

In a statement, Marqeta attributed the weaker guidance to "several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes." According to Marqeta's Chief Financial Officer Mike Milotich, the increased regulatory scrutiny has delayed the timelines for getting clients' card programs up and running.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1133621630?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 21:02","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1133621630","market":"hk","top_or_hot":-1,"title":"Stock Track | Marqeta Surges on Regulatory Delays, Cuts Q4 Outlook","media":"Stock Track","content":"<p>Shares of Marqeta Inc. (MQ) soared 6.43% on November 5, 2024, as the financial technology company slashed its fourth-quarter guidance, citing heightened regulatory scrutiny on its bank partners as a key factor behind the reduced outlook.</p>\n\n<p>The Oakland, California-based company, which provides payment card services to companies like Block (SQ) and Affirm, now expects fourth-quarter revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. It also guided for gross profit growth of 13% to 15% in the fourth quarter, well below its prior estimate of around 25% to 27%.</p>\n\n<p>In a statement, Marqeta attributed the weaker guidance to \"several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes.\" According to Marqeta's Chief Financial Officer Mike Milotich, the increased regulatory scrutiny has delayed the timelines for getting clients' card programs up and running.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Marqeta Surges on Regulatory Delays, Cuts Q4 Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Marqeta Surges on Regulatory Delays, Cuts Q4 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-06 21:02 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Marqeta Inc. (MQ) soared 6.43% on November 5, 2024, as the financial technology company slashed its fourth-quarter guidance, citing heightened regulatory scrutiny on its bank partners as a ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MQ","symbol_name":"Marqeta, Inc.","start_time":0,"source_url":"","article_id":"1133621630","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1133621630","pubTimestamp":1730898152,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Marqeta Inc.  soared 6.43% on November 5, 2024, as the financial technology company slashed its fourth-quarter guidance, citing heightened regulatory scrutiny on its bank partners as a key factor behind the reduced outlook.The Oakland, California-based company, which provides payment card services to companies like Block  and Affirm, now expects fourth-quarter revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. It also guided for gross profit","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MQ":"Marqeta, Inc."},"translate_title":"股票跟踪Marqeta因监管延迟而飙升，下调第四季度前景","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQ":1},"content_text":"Shares of Marqeta Inc. (MQ) soared 6.43% on November 5, 2024, as the financial technology company slashed its fourth-quarter guidance, citing heightened regulatory scrutiny on its bank partners as a key factor behind the reduced outlook.\nThe Oakland, California-based company, which provides payment card services to companies like Block (SQ) and Affirm, now expects fourth-quarter revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. It also guided for gross profit growth of 13% to 15% in the fourth quarter, well below its prior estimate of around 25% to 27%.\nIn a statement, Marqeta attributed the weaker guidance to \"several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes.\" According to Marqeta's Chief Financial Officer Mike Milotich, the increased regulatory scrutiny has delayed the timelines for getting clients' card programs up and running.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1133621630"}