Marqeta Stock Drops 30% Post-Weaker Q4 Forecast Amid Banking Sector Concerns

Benzinga

Marqeta shares fell over 30% in extended trading after the company released a weaker-than-expected fourth-quarter outlook. The payment processing firm cited banking sector concerns and customer program adjustments. Third-quarter results showed a slight miss on revenue and adjusted earnings. Marqeta’s forecast for fourth-quarter revenue growth fell short of analysts' estimates. Marqeta has also expanded into the Buy Now, Pay Later space with its Marqeta Flex product, enabling BNPL credit cards through partnerships with lenders like Affirm and Klarna.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Marketa shares fell over 30% in extended trading after the company released a weaker than expected

00:07fourth quarter outlook. The payment processing firm cited banking sector concerns and customer

00:12program adjustments. Third quarter results showed a slight miss on revenue and adjusted earnings.

00:18Marketa's forecast for fourth quarter revenue growth fell short of analyst estimates.

00:22Marketa also expanded into buy now pay later space with its Marketa Flex product

00:26with partnerships like lenders with the firm and product.

00:29For all things money visit Benzinga.com slash GSTV.

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