From Financial Modeling Prep: 2024-11-05 08:39:00

Marqeta (NASDAQ:MQ) stock plummeted over 40% pre-market due to a lowered fourth-quarter guidance. In Q3, adjusted loss was $0.06 per share, missing estimates by a cent. Revenue hit $128 million, slightly below expectations, with TPV up 30% to $74 billion and Gross Profit up 24% to $90 million.

Despite positive growth, Marqeta revised Q4 net revenue growth to 10-12% from 16-18%, below the 17% consensus. Gross profit projections lowered to 13-15% from 22-24%, below the expected 23%. EBITDA margin growth adjusted to 5-7% from 6-8%, under the 7% expected by analysts.



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