Payments company Marqeta beats revenue estimates as transactions surge

Reuters2021-08-12

Aug 11 (Reuters) - Payments company Marqeta Inc reported a 76% jump in second-quarter revenue on Wednesday that beat market estimates, as the company benefited from a surge in transactions made through its platform.

Net revenue rose to $122.27 million for the quarter ended June 30, from $69.4 million a year earlier.

Analysts on average were expecting revenue of $99.75 million, according to IBES data from Refinitiv.

Financial technology companies like Marqeta have gained from an uptick in virtual transactions during the COVID-19 pandemic, which has boosted online spending on shopping and food deliveries.

The company's net loss widened to $68.55 million, or 29 cents per share for the quarter, from $7.1 million, or 6 cents per share, a year earlier, due to higher employee-related costs.

Marqeta, which provides payments services to customers including Uber Technologies Inc and DoorDash Inc

, reported its earnings for the first time after making its stock market debut in June.

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Comments

SCSE_NTU
2021-08-12
SCSE_NTU
new to me
NicElo
2021-08-12
NicElo
Up
- kck77:
  ?
lyj893
2021-08-12
lyj893
Ok
- Tj23:
  Ok
MamaLee
2021-08-12
MamaLee
Ok
- lyj893:
  Yes
NRN
2021-08-12
NRN
??
- MamaLee:
  Ok
henghm
2021-08-12
henghm
Like and comment
- SCSE_NTU:
  done
- Gnoixed:
  pls reply
- Bliang:
  A

Leave a comment

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