BUZZ-Marqeta soars after quarterly revenue beats expectations

Shares of card issuer Marqeta MQ.O jump as much as 24.6%

MQ, late Wednesday, posted Q4 net revenue of $135.8 million, beating Wall Street expectations of $132.8 million, according to data compiled by LSEG

Total processing volume jumped 29% to $80 billion in the quarter, driven by strong holiday spending

Company announced the departure of CEO Simon Khalaf, with Chief Financial Officer Mike Milotich taking the helm in the interim

MQ also forecast net revenue growth of 16% to 18% in 2025, implying net revenue of $588 million to $598 million, compared with Street expectations of $582 million

J.P.Morgan analyst Tien-tsin Huang says the earnings and forecast were reassuring, adding the progress should set MQ back on track to hit its medium-term growth objectives next year

As of last close, MQ stock down 7.4% YTD