OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Marqeta Inc. (MQ) on Wednesday reported a loss of $27.1 million in its fourth quarter.
The Oakland, California-based company said it had a loss of 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The transaction processing services provider posted revenue of $135.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $131.7 million.
For the year, the company reported profit of $27.3 million, or 5 cents per share. Revenue was reported as $507 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MQ at https://www.zacks.com/ap/MQ
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