5 Quarterly Reports Everyone is Talking About

3. Marqeta, Inc. (NASDAQ:MQ)

Number of Hedge Fund Holders: 39

Shares of Marqeta, Inc. (NASDAQ:MQ) rallied over 18 percent on Thursday, May 12, 2022, despite its mixed financial performance for the first quarter. The Oakland-based fintech company reported a loss of 11 cents per share, wider than analysts’ average estimate for a loss of 8 cents per share.

On the bright side, revenue for the quarter climbed 54 percent versus last year to $166 million and exceeded the consensus of $161.27 million. In addition, Marqeta, Inc. (NASDAQ:MQ) reported that total processing volume for the quarter jumped 53 percent on a year-over-year basis to $37 billion.

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Marqeta, Inc. (NASDAQ:MQ) also released its sales outlook for the current quarter. The company expects its Q2 revenue to grow in the range of 46 – 48 percent over the same period of 2021.

Commenting on the quarter, CEO Jason Gardner said:

“Our results for the first quarter of 2022 put the fundamentals of Marqeta’s modern card issuing platform on strong display, as we powered our customers to new milestones of scale and enabled their global expansion, while launching new products and partners that further enrich the value we provide them.”