Marqeta marches upIt’s a good time to be a Marqeta investor after the card-issuing company smashes its fourth quarter.
🔍 Key points:
- Shares lifted over 8% in extended trading on Wednesday before opening up just over 5%, after the firm beat even the highest estimates with a LPS of $0.09 on revenues that were up 76% to hit $155m.
- Its total processing volume (TPV) soared 76% y-o-y to hit $33bn and top estimates, driven in large part by a shift in consumer behavior to the e-commerce experience, as well as the continuation of card spending for buy now, pay later services.
- As the cherry on top of a delicious report, guidance came in above estimates. The brand expects revenue growth of up to 50% for the current quarter, helped by a recent partnership with Citi Commercial Cards, which will help diversify the company’s dependence on debit cards.
marqeta / Unsplash
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A BNPL bumpMarqeta, a provider of buy now pay later (BNPL) solutions, sees investors paying up following an impressive new partnership.
- It’s partnering with Mastercard (MA) and Paycast to launch a digital card product, the latest in a long list of promising partnerships with the likes of Coinbase (COIN), Uber (UBER), and Square (SQ) – though investors haven’t seemed so excited..
- Prices popped over 10% on Wednesday after tumbling 34% in November.
- Other BNPL stocks got some love on Wednesday – Affirm (AFRM) was up 4% and Afterpay (APT) closed up 3%, even as regulators start worrying about the potential for consumer harm that the service could present.
Fakurian Design / Unsplash