** Shares of card issuer Marqeta MQ.O jump as much as 24.6%
** MQ, late Wednesday, posted Q4 net revenue of $135.8 million, beating Wall Street expectations of $132.8 million, according to data compiled by LSEG
** Total processing volume jumped 29% to $80 billion in the quarter, driven by strong holiday spending
** Company announced the departure of CEO Simon Khalaf, with Chief Financial Officer Mike Milotich taking the helm in the interim
** MQ also forecast net revenue growth of 16% to 18% in 2025, implying net revenue of $588 million to $598 million, compared with Street expectations of $582 million
** J.P.Morgan analyst Tien-tsin Huang says the earnings and forecast were reassuring, adding the progress should set MQ back on track to hit its medium-term growth objectives next year
** As of last close, MQ stock down 7.4% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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