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Benzinga

Business

Norman Chu

Why Marqeta Stock Is Trading Higher During Wednesday's After-Hours Session

Shares of Marqeta Inc. (NASDAQ:MQ) surged during Wednesday’s after hours’s session following a management update that the company both raised expectations for Q4 financial results, and revealed that Visa Veteran Mike Milotich would be the new Chief Financial Officer.

During the third-quarter earnings report, Marqeta provided financial guidance regarding net revenue and adjusted EBITDA for the fourth quarter. As a result of “higher-than expected processing volumes,” management now expects to “outperform the previously announced guidance for both its net revenue and adjusted EBITDA.” Q4 earnings are on March 9, 2022.

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