Marqeta Inc.
- Marqeta Inc soared 15.9% to $5.75 after the payment processing company reported mixed quarterly results.
Total processing volume in the second quarter surged 33% to $53.6billion from $40.4 billion a year ago.
Revenue in the second quarter rose 24% to $231 million from $186.6 million and net loss expanded to $58.8 million from $44.4 million and net loss per share rose to 11 cents from 8 cents a year ago.
The payment platform extended its deal with Block's Cash App card payment processing services for four more years.
The company also struck a multi-faceted partnership deal with Brazil-based Fitbank to expand in the region and help other fintech companies to process payments.
Aug 9, 2023
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