Marqeta reports Q3 EPS (10c), consensus (9c)

Reports Q3 revenue $108.891M, consensus $95.07M. “Our Q3 results represent the new baseline for Marqeta, post Block’s Cash App renewal. We’ve shown continued sales bookings momentum against a backdrop of operational discipline, continued scale, and new innovations through the launch of our credit platform,” said Simon Khalaf, CEO of Marqeta. “We are in a good position to return to strong growth by Q3 2024 as we lap the Cash App contract and expect to accelerate that growth in future years as the market for embedded finance continues to materialize.”