Why Marqeta (MQ) Stock Is Trading Lower Today
What Happened: Shares of leading edge card issuer Marqeta (NASDAQ: MQ) fell 7.69% in the after-market session after the company reported first quarter revenue and adjusted EBITDA that exceeded analysts' expectations. However, EPS missed, gross margin deteriorated, and cash burn increased. Revenue guidance for the next quarter also missed Consensus while adjusted EBITDA guidance beat. To add more color to the profitability guidance, management noted that " it will accelerate the realization of its efficiency goals and take restructuring actions in Q2 to reduce operating expenses by $40-$45 million on an annual run rate basis." Despite the encouraging profitability outlook, the overall results were mixed. ... Continue Reading
Jabin Bastian 2023/05/10 1:02pm
What Happened: Shares of leading edge card issuer Marqeta (NASDAQ: MQ) fell 7.69% in the after-market session after the company reported first quarter revenue and adjusted EBITDA that exceeded analysts' expectations. However, EPS missed, gross margin deteriorated, and cash burn increased. Revenue guidance for the next quarter also missed Consensus while adjusted EBITDA guidance beat. To add more color to the profitability guidance, management noted that " it will accelerate the realization of its efficiency goals and take restructuring actions in Q2 to reduce operating expenses by $40-$45 million on an annual run rate basis." Despite the encouraging profitability outlook, the overall results were mixed. ... Continue Reading