Welcome to our dedicated page for Marqeta news (Ticker: $MQ), a resource for investors and traders seeking the latest updates and insights on Marqeta stock.
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Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Marqeta's position in the market.
Marqeta, Inc. (NASDAQ: MQ) reported $67 billion in Total Processing Volume with Net Revenue of $118 million in the first quarter of 2024. Despite the 33% increase in TPV, the Net Revenue saw a 46% decrease primarily due to a change in revenue presentation from the new Cash App contract effective since July 2023. The Gross Profit was $84 million, down 6% year-over-year, resulting in a GAAP Net Loss of $36 million. Adjusted EBITDA was positive $9 million with an 8% margin.
Marqeta highlighted recent expansions and partnerships, including a collaboration with Uber Eats, Klarna, and Rain, as well as the authorization of a $200 million share repurchase program. The company showcased growth and operational efficiencies, emphasizing the broad capabilities of the Marqeta platform.
Marqeta (NASDAQ: MQ) announced the global expansion of its partnership with Uber Eats into eight new markets, including Canada, Australia, Mexico, Brazil, Colombia, Peru, Chile, and Costa Rica. This expansion showcases Marqeta's platform's global reach and ongoing partnership with Uber, allowing them to launch card products in over 40 markets through a single integration, reducing time-to-market for subsequent launches. The partnership aims to provide Uber with the latest digital payment tools to enhance their services and support growth in new and existing markets.
