Marqeta (MQ) jumps following results and Cash App deal that removes 'significant overhang'
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Marqeta Reports Second Quarter 2023 Financial Results, Announces Four Year Extension to Cash App Contract
August 8, 2023 4:07 PM EDTThe global modern card issuer had $54 billion in total processing volume, up 33 percent year-over-year, with net revenue of $231 million in the second quarter of 2023, up 24 percent year-over-year.
OAKLAND, Calif.--(BUSINESS WIRE)-- Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the second quarter ended June 30, 2023.
Total processing volume (TPV) was $54 billion, with net revenue of $231 million, representing year-over-year increases of 33% and 24%, respectively. Gross profit was $85 million, an increase of 8% year over year, resulting in a gross margin of 37%. GAAP net loss was $59 million and Adjusted... More
