Marqeta reports Q3 EPS (6c), consensus (5c)

Reports Q3 revenue $128.0M, consensus $128.1M. Total Processing Volume increased by 30% year-over-year, rising to $74 billion from $57 billion in the third quarter of 2023. “In the third quarter our true growth trajectory was back on display as we lapped the Block contract renewal, while continuing to demonstrate operational discipline to fuel strong Adjusted EBITDA. We combined this with several new product announcements that further enhance the Marqeta (MQ) platform to provide transformative payment solutions at scale for our expanding customer base,” said Simon Khalaf, CEO at Marqeta.