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Earnings Results: Marqeta says it will ‘take restructuring actions,’ stock falls after earnings

Earnings Results

Company announces buyback program of up to $200 million

Marqeta says it will “accelerate the realization of its efficiency goals and take restructuring actions.”


Shares of Marqeta Inc. were fell 5% in after-hours trading Tuesday after the card-issuing company logged a wider-than-expected GAAP loss for its latest quarter and said it would “take restructuring actions” in the current quarter.

The company recorded a first-quarter net loss of $68.8 million, or 13 cents a share, compared with a loss of $60.6 million, or 11 cents a share, in the year-before quarter. The loss reflected a $32 million one-time expense related to the company’s Power acquisition.


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