Marqeta faces tough market reaction to Q3 earnings

The news: Marqeta’s shares tumbled 30% after the company released weak Q3 earnings. 

  • Marqeta’s net loss increased 48% YoY, totaling $28.64 million. 
  • Net revenues increased 18% YoY in Q3. But it lowered its revenue forecast for Q4 to 10%-12% YoY from 16%-18% YoY.

The company’s stock is now more than 80% below its peak in 2021. 

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