Marqeta Stock: Shares of payment processing firm Marqeta (MQ) dropped by more than 30% in after-hours trading following the company’s release of a weaker-than-expected Q4 forecast. Marqeta posted a loss of 6 cents per share, slightly below analysts’ expected 5-cent loss, and met revenue estimates at $128 million.
However, the company’s forecast of a 10-12% revenue growth for the upcoming quarter fell short of Wall Street’s 17% expectation. CEO Simon Khalaf attributed the shortfall to a “heightened scrutiny of the banking environment” and specific customer changes impacting the company’s core card-issuing business.
Despite challenges, Marqeta’s total processing volume rose by over 30%, reaching $74 billion, with digital commerce and buy now, pay later (BNPL) services driving growth.
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