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August 9, 2023 10:16 AM | 1 min learn
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Marqeta Inc (NASDAQ:MQ) shares are buying and selling greater by 17.0% to $5.80 Wednesday morning after the corporate reported blended second-quarter financial results.
Marqeta introduced second-quarter losses of 11 cents per share, 10% beneath the estimated lack of 10 cents. Second-quarter gross sales had been $231.0 million, surpassing the estimated $219.22 million by 5.37% and reflecting a 23.74% rise from $186.68 million in the identical interval final 12 months.
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In the meantime, year-over-year, gross revenue rose 8% to $85 million from $78 million in second-quarter 2022, pushed by TPV progress, leading to a 37% gross margin in second-quarter 2023.
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Second-quarter internet loss elevated by $14 million to $59 million. The gross revenue improve was partially offset by greater compensation & advantages, attributed to restructuring prices and post-combination compensation associated to the Energy Finance acquisition. Internet loss margin for second-quarter 2023 was 25%.
Complete Processing Quantity surged 33% YoY to $54 billion from $40 billion in second-quarter 2022.
Adjusted EBITDA improved by $11 million YoY, reaching $1 million in second-quarter 2023 from a $10 million loss in the identical interval final 12 months. Adjusted EBITDA margin for second-quarter 2023 was 0.4%, up 5% from the earlier 12 months.
In keeping with information from Benzinga Pro, MQ has a 52-week excessive of $11.14 and a 52-week low of $3.46.
“The Greatest Report Benzinga Has Ever Produced”
Huge returns are potential inside this market! For a restricted time, get entry to the Benzinga Insider Report, often $47/month, for simply $0.99! Uncover extraordinarily undervalued inventory picks earlier than they skyrocket! Time is operating out! Act quick and safe your future wealth at this unbelievable low cost! Claim Your $0.99 Offer NOW!
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