BUZZ-Marqeta slumps after dour Q4 revenue growth forecast

Reuters
2024-11-05

** Shares of card issuer Marqeta slide 31.6% to $4.07 after the bell

** MQ forecasts Q4 net revenue growth to be between 10% to 12%, compared with Wall Street expectations of 17.4% - LSEG data

** Q4 outlook reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes - MQ

** Meanwhile, Q3 net loss narrowed to $28.6 mln from $55 mln a year earlier

** As of last close, MQ shares down 15% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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